Fraud-Accused Goldman Was Obama's Biggest Backer!

House Republican Leader John Boehner (R-OH) issued the following statement after the U.S. Securities & Exchanges Commission (SEC) announced it was charging Wall Street giant Goldman Sachs – which has been supportive of President Obama’s bill to create a permanent bailout fund – with defrauding investors:
“These are very serious charges against a key supporter of President Obama’s bill to create a permanent Wall Street bailout fund. Despite President Obama’s rhetoric, his permanent bailout bill gives Goldman Sachs and other big Wall Street banks a permanent, taxpayer-funded safety net by designating them ‘too big to fail.’ Just whose side is President Obama on?

“Instead of permanent bailouts for President Obama’s Wall Street allies, Republicans believe the best way to protect taxpayers is by reforming Fannie Mae and Freddie Mac, the government-sponsored companies that sparked the meltdown by giving high-risk loans to people who couldn’t afford it.”
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Tim Geithner: Too Close to Goldman Sachs to Be Treasury 
Secretary, Critic Says

Posted Jan 21, 2009 12:22pm EST by Aaron Task in Newsmakers, Banking

Related: GS, C, BAC, XLF, MS, JPM, ^DJI

Tim Geithner apologized for not paying his taxes and some Republicans criticized his involvement in the TARP program at today's hearing, but Barack Obama's nominee for Treasury Secretary appears on track for confirmation. FULL STORY & VIDEO