Braley Urges SEC and Department of Justice to Hold Goldman Sachs Accountable Print
News Releases - Business, Economy & Finance
Written by Caitlin Legacki   
Tuesday, 27 April 2010 08:05

Washington, DC – In light of recent revelations about Goldman Sachs’ actions leading up to the financial collapse of 2008, Congressman Bruce Braley (D-Iowa) signed on to two letters urging the Securities and Exchange Commission and Attorney General Eric Holder to hold Goldman Sachs accountable for its role in creating the worst economic crisis since the Great Depression.

“For too long, reckless speculators on Wall Street gambled away the savings of America’s middle class families,” Braley said. “To ensure this never happens again, I’m joining my colleagues in asking the SEC and Attorney General Eric Holder to hold all responsible parties accountable and make sure they are prosecuted to the fullest extent of the law. While we can’t get every dime of every retirement, college or savings account back, we can certainly make sure that greedy Wall Street speculators understand the full consequence of their actions.”

On Friday, Braley joined Rep. Marcy Kaptur (OH-09) and 60 other Members of Congress in urging Holder to pursue all appropriate criminal charges against those involved in fraudulent activity at Goldman Sachs and other institutions. Today, Braley joined Reps. Peter DeFazio (OR-04), Elijah Cummings (MD-07), Dennis Cardoza (CA-18) and Stephanie Herseth Sandlin (SD-AL), along with 56 other Members of Congress, in sending a letter to SEC Chairwoman Mary Schapiro. The letter asks her to pursue investigations into the remaining 24 ABACUS transactions for securities fraud, evaluate the extent of any receipt, by Goldman Sachs, of fraudulently-generated AIG-issued credit default swap payments, and vigorously pursue the recovery of such payments on behalf of the U.S. taxpayer.

The full text of both letters are attached.


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