Dear Fox, wouldn't the real scandal be if Obama interfered with the SEC's case against Goldman Sachs?


Following the announcement that the Security and Exchange Commission is investigating the investment firm Goldman Sachs for fraud, an April 19 article reported that the "White House...strongly denied any involvement in the timing of the high-profile fraud case against Goldman Sachs," after Republicans and their media acolytes suggested the charges were timed to help pass financial reform. Fox News reported that "Republicans also accused the administration of biting the hand that fed it, since Goldman Sachs was President Obama's top Wall Street contributor during the 2008 campaign, with employees donating nearly $1 million, according to the Center for Responsive Politics," and went on to quote Rep. John Boehner as asking "just whose side is President Obama on?" Pause for reaction. First of all, the SEC is a non-partisan body that is operating independent of the White House. Secondly, the accusation that the President is "biting the hand that fed it" makes absolutely no sense. Wouldn't the real scandal be if Obama interfered with a SEC investigation because the subject of the investigation was a large campaign contributor of his?

To answer Boehner's question about "just whose side is President Obama on," (a quote got from his April 16 press release) given that Obama is pushing for increased regulation on the financial market, he appears to be on the taxpayers side. Boehner, on the other hand, has opposed financial regulation, and Goldman Sachs is the second largest contributor to his Freedom Project PAC. So, one wonders, "just whose side is" Boehner on. Oh, and no word yet on whether he's considering returning that money.

The right-wing media , with their usual enthusiasm, followed Boehner's lead in attacking Obama's campaign funds, with Free Republic, and the Drudge Report asking "Will Obama Return $994,795 in Goldman Sachs Campaign Contributions?" Fox & Friends engaged in some idle speculation about whether he would return the money, which prompted guest host Courtney Friel to compare the President returning the money to "Indian giving." To be fair, co-host Steve Doocy noted that, contrary to the suggestion of some GOPers, the Goldman charges shows that Obama is "beholden to no one." Note to Boehner, you know you're grasping at straws when you've even lost Steve Doocy.

Posted In
Fox News Channel, The Drudge Report,
Matt Drudge, Steve Doocy, Courtney Friel
FOX & Friends, Free Republic
Financial Regulatory Reform
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