Wall Streeters who have wondered about the suspicious timing of the SEC’s case against Goldman ever since it was announced within moments of Obama’s big Fin Reg push will soon have an answer.The SEC is going to investigate the timing of the SEC’s announcement of its case against Goldman.
First, on April 16, the SEC announced its Goldman case at a market top, just a few hours before President Obama gave a speech kicking off his financial regulation push.
This is insanely coincidental and therefore, suspicious.
Financial regulation had just become the main topic for Congress to focus on at the exact same time that the SEC announces a Goldman case that destroys any chance Wall Street had to limit regulation.
So a bunch of people noticed that was weird.
And on top of that, by announcing their case on Friday that day, the flux of SEC headlines on the Goldman case squelched the attention drawn to the SEC’s botched investigation of Allen R Stanford.
Then, last Thursday, Goldman announced it would settle with the SEC for $550 million.
Almost at exactly the same time, Congress announced that it signed the new FinReg bill at 3 pm.
At a minimum, there’s a lot of coincidental timing here, so investigators will look into emails that lead up to the timing/decisions.