SEC Watchdog Calls Goldman Lawsuit Timing 'Suspicious'

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Remember the fishy timing surrounding the Securities and Exchange Commission's announcement that it was suing Goldman Sachs back in April? It occurred the same day that an embarrassing report was released suggesting that the SEC dropped the ball on detecting Sanford Ponzi scheme and also occurred at pivotal moment for the financial regulation bill in the Senate. It turns out that the SEC's own internal watchdog Inspector General H. David Kotz also found the timing a little odd. The Wall Street Journal reports:

At a Senate Banking Committee hearing Wednesday, Mr. Kotz was questioned about the timing of the Goldman suit. He responded: "It would strain credulity to think it was coincidental." He added: "I can't give you a conclusion right now, but it was suspicious."

Read the full story at the Wall Street Journal.

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Daniel Indiviglio was an associate editor at The Atlantic from 2009 through 2011. He is now the Washington, D.C.-based columnist for Reuters Breakingviews. He is also a 2011 Robert Novak Journalism Fellow through the Phillips Foundation. More

Indiviglio has also written for Forbes. Prior to becoming a journalist, he spent several years working as an investment banker and a consultant.
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