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Protecting the Hand that Feeds Them

April 21, 2010

A quick little news item that might go under the radar. Rep. Issa is apparently worried that charges against Goldman Sachs might be “politically motivated” and wants more information from the SEC :

“The American people have a right to know whether the Commission, or any of its officers or employees, may have violated federal law by using the resources of an independent regulatory agency to promote a partisan political agenda,” Issa said in a statement.

For starters, of course the SEC is motivated by politics – what regulatory bodies aren’t affected by the environment in which they operate? That aside, though we all know Washington is basically the political arm of Wall St., it’s nice when little news items like this lay it bare for all to see. Here it’s always helpful to remember John Dewey’s assertion that “politics is the shadow cast on society by big business.” Rep. Issa could care less about fraud, politically motivated regulation, or the reasons for the economic collapse – instead she has masters to serve.

More the Goldman Sachs fraud case soon. In the meantime, thank you Rep. Issa for attempting to protect Goldman Sachs from political machinations of the Obama administration – we will all sleep more sound tonight.

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