Lawmakers Look To Use Goldman In Reform Push

Law360, New York (April 16, 2010, 7:44 PM EDT) -- Democratic lawmakers looked to capitalize Friday on the U.S. Securities and Exchange Commission's allegations that Goldman Sachs Group Inc. cheated investors in mortgage-backed securities, with the case becoming the latest weapon in the ongoing congressional battle over financial reform on Wall Street.

According to the SEC's suit, the investment bank played both sides in creating a collateralized debt obligation made up of mortgage-backed securities that was designed to fail.

The SEC's allegations against Goldman reflect the very reason why Congress must enact legislation to shine a...
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