I was holding off on posting anything about this because the evidence was too tenuous and the reports too speculative for me to think there was anything solid enough to merit writing about. However, today things became a bit more solid.
Originally, there was speculation, and not unreasonably so, that the timing of the Security Exchange Commission civil suit against Goldman-Sachs was too close in preceding the President's push for a financial reform bill to be coincidence. Now it has been revealed that at the same time as Goldman-Sachs attorneys were negotiating with the SEC over the civil suit, the CEO of Goldman-Sachs was visiting the White House on a regular basis. At the same time as the administration is demonizing financial institutions and the charges were set forth against Goldman-Sachs, President Obama has refused to return the nearly $1 million in campaign donations he received from them.
While there still does not appear to be a smoking gun that the case was discussed at the meetings with President Obama and Larry Summers, this stinks to high heaven. Given the history of this administration, an investigation would be appropriate.
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