Re: Re: Playing Politics With Goldman

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I would point out two things about the SEC suit: The investigation began well before Obama was elected president and Goldman was warned in July 2009 — hardly the height of financial reform debate — that charges were coming. From the Wall Street Journal:

Goldman said it first heard from the SEC about the investigation in August 2008, when it received a subpoena requesting documents related to the transaction.

….

In July 2009, Goldman and Mr. Tourre received so-called Wells notices from the SEC. Such notices are a formal warning that regulators intend to file civil charges, and serve as a point of negotiation about a settlement. By September 2009, both Goldman and Mr. Tourre had responded to the charges in a 41-page document, according to people familiar with the matter.

(h/t Felix Salmon)