SEC Inspector General Will Investigate Timing of Goldman Case

AP

David Kotz, the Inspector General of the Securities and Exchange Commission (SEC), said today that he will investigate the timing of the decision by the SEC to instigate fraud charges against Goldman Sachs.

Some Republicans have suggested that the Goldman filing was timed to help President Obama and Democrats pass a financial industry reform bill.

"We need to understand what lead to the decision to announce or bring the case on that day, to see if there was any undue influence involved," Kotz said in an appearance on Fox News.

Kotz was responding to a letter (PDF) from Darrell Issa (R-Calif.), the top Republican on the House Oversight and Government Reform Committee. Issa has cast the circumstances of the filing against Goldman as suspicious.

The lawmaker suggested in the letter that the SEC or its employees "may have engaged in unauthorized disclosure or discussion of Commission proceedings in order to affect the debate over financial regulatory legislation currently pending before the United States Senate. "

Earlier this week eight members of the Oversight committee sent a letter (PDF) to SEC chair Mary Schapiro asking if there was "any sort of prearrangement, coordination, direction from or advance notice provided by the Commission to the Administration or Congressional Democrats regarding last Friday's filing against Goldman."

The letter said Americans "have a right to know" whether the SEC may have violated federal law by using its resources "to promote a partisan political agenda."

[honest_pols]

MANY UNAWARE OF LICENSES 'TO SELL WHAT IS NOT OWNED' GRANTED BY U.S GOVT
FOR MAJOR PRINCIPALS, DEALERS, TRADERS IN BOTH COMMODITY AND STOCK MARKETS

In the name of providing more liquidity, increased efficiency of our markets, and other logically and beneficially-sounding reasons for justification of such U.S. FEDERAL GOVT LICENSED practices, our financial exchanges have been granted such licenses for MANY DECADES - perhaps for one hundred years or more.

Prices of the underlying security or commodity are regularly and frequently manipulated, specifically for 'accommodation' of the specie - either to increase or to reduce its price - which is held by the dealers, traders and/or principals, according to their positions (long or short, or both).

The following has been copied from an item written against 'short selling' and against selling what is not owned, or what does not even exist:

[ The CFTC is the Commodity Futures Trading Commission, and their job is to regulate futures contracts, to prevent fraud. But they protect and encourage fraud! How? They place position limits on the longs (and there should never be limits on what you can buy in a free market), but they refuse to place and enforce position limits on the shorts (who fraudulently sell what they do not have). If anything, to prevent fraud, they should limit the shorts, and not limit the longs.

Also, it is well known that JP Morgan is a major precious metals short, but the CFTC does nothing.
http://www.caseyresearch.com/displayGsd.php?id=106 ] END

FINAL, BOTTOM LINE QUESTION:
What happens when the holders/owners of the contracts, options, derivatives, and/or other complex paper 'representational certificates', demand delivery of what they purportedly own?
They will find out that only perhaps one percent of the underlying specie or commodity actually exists, and that the vast majority have been sold fraudulent pieces of paper!

[msjb1]

don't forget to check out the great porn on their computers I wonder if them jerks went home after work and changed their underwear before having dinner with their familys and then tell them about how swell their day went they muust be a real proud bunch if they get any jail time out of this maybe put them all in 1 cell so they can play with each other. just shows everybody the kind of people we have in the government we have wannabe porn stars, and liars, and cheats now thats quite a group running our country the only thing is that they are running it right into the ground. just think these are them dopers you seen running around your neighborhoods in the sixtys and seventys can't you just wait for the next generations. PRAISE THE LORD that dec. 21 2012 comes true so we can start over.

[pasmalltown]

"PRAISE THE LORD that dec. 21 2012 comes true so we can start over.
-------------------------
Better to choose wisely for your "wish" to come true in 2012, there are 21 million others out there in the workplace "right" now. Who knows what that figure will climb to in two years......
And that doesn't even touch on the fact that a majority of Federal employees are not elected or appointed, so how you gonna vote them'uns out?

[sharonjameson]

i know that David Kotz, the Inspector General of the Securities and Exchange Commission (SEC),got quick any thing like that.

http://www.articlesbase.com/health-articles/cho-yung-tea-review-where-to-buy-cho-yung-tea-2203061.html

[macgerson]

Shame on these people. The administration told us there were no political considerations. If that's no good enough for them they must be teabaggers.

[retm-w]

macgerson

And this administration doesn't lie?

[pasmalltown]

by retm-w April 23, 2010 7:06 PM EDT
macgerson

And this administration doesn't lie?
-------------------------------
I think the answer to your question "lies' within the answer to DocD--2008's question............

[IndepTex20]

David Kotz, the Inspector General of the Securities and Exchange Commission (SEC), said today that he will investigate the timing of the decision by the SEC to instigate fraud charges against Goldman Sachs.

I sure hope he has time to do that but websurfing porn might get in the way based on the recent history of the SEC.

[pasmalltown]

"I sure hope he has time to do that but websurfing porn might get in the way based on the recent history of the SEC"
-------------------------------
And you're not worried about everything that Issa's got on his plate "right" now? Kotz has only the SEC to worry about, Issa seems to want to question everything the Democrats do when he can smell political gain. Why doesn't Issa stick his nose into the "websurfing porn" problem government-wide? Because he's afraid of what he might "unearth". "Independent" thought swings both ways afterall. Issa's still "hung up" on Joe Sestak, the SEC and all other potential Democratic "scandals". Maybe Issa can call for a special prosecutor to investigate HIS office for workplace "porn surfing"? He'd probably view it as a "waste of time" and "taxpayer dollars".