DODD STATEMENT ON SEC CHARGES AGAINST GOLDMAN SACHS

WASHINGTON – Today, Senate Banking Committee Chairman Chris Dodd (D-CT) issued the following statement on news the Securities and Exchange Commission charged Goldman, Sachs & Co. and one of its vice presidents with defrauding investors.

 

“The SEC lawsuit against Goldman Sachs makes serious allegations involving securities fraud.  I will not comment on ongoing litigation.”

 

“But let’s be clear, we don’t need to know the outcome of this case to know that the opaque nature of unregulated asset backed securities fueled the financial crisis.  And even as our country is still recovering from those mistakes, Wall Street financial firms continue to game the system.”

 

“We must pass Wall Street reform to bring practices like these into the light of day and protect our economy from another devastating blow.”

 

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