(This is a guest post first appeared on House Republican Leader John Boehner’s Blog)
House Republican Leader John Boehner (R-OH) issued the following statement after the U.S. Securities & Exchanges Commission (SEC) announced it was charging Wall Street giant Goldman Sachs – which has been supportive of President Obama’s bill to create a permanent bailout fund – with defrauding investors:
“These are very serious charges against a key supporter of President Obama’s bill to create a permanent Wall Street bailout fund. Despite President Obama’s rhetoric, his permanent bailout bill gives Goldman Sachs and other big Wall Street banks a permanent, taxpayer-funded safety net by designating them ‘too big to fail.’ Just whose side is President Obama on?
“Instead of permanent bailouts for President Obama’s Wall Street allies, Republicans believe the best way to protect taxpayers is by reforming Fannie Mae and Freddie Mac, the government-sponsored companies that sparked the meltdown by giving high-risk loans to people who couldn’t afford it.”
NOTE: Goldman Sachs was President Obama’s top Wall Street contributor during the 2008 election cycle, donating nearly $1 million to his campaign.
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