There is no doubt that Goldman Sachs is guilty of dealing in favor of its own financial self-interests. But, when the government announced that it was going to pursue an SEC case against Goldman Sachs, very little was said about its coincidental timing to the release of its findings of the SEC's own lapse in protecting investor interests in the matter of Allen Stanford's fraudelent investment schemes.
On April 20th a Wall Street Journal opinion piece detailed the "impeccable timing by the SEC" to publicize their case against Goldman on the same day their failings were revealed. The impact of this move has been evidenced today with the hours long coverage that the cable news outlets have devoted to the grilling Goldman Sachs has gotten by our esteemed U.S. senators.
If the goal of the exercise is to improve our system and eradicate the bad actors in an effort to make it a safer, fairer marketplace for individual Americans to do business, then the SEC and the Feds need to take a serious look at their own misdoings and allow the public ire to focus on their own failings as much as those of private enterprise.
However, if you are judging the SEC on PR points for their execution, give them a 10 for timing.
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