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Kaufman Comments on Announcement that SEC has Charged Goldman Sachs with Fraud
“However long it takes, whatever resources the SEC needs, Congress needs to continue to back the SEC and the Justice Department in their efforts to uncover wrongdoing”

April 16, 2010


WASHINGTON, DC – In reaction to the filing of charges by the Securities and Exchange Commission against Goldman Sachs today, Senator Ted Kaufman (D-DE) issued the following statement:

“We can have only one justice system in this country for both the rich and powerful and those who are not. I’m not prejudging the merits of this action, but if we don’t treat Wall Street firms that have allegedly defrauded investors of millions of dollars with the same gravity as we treat all others, why would our citizens have faith in the rule of law?

“I applaud Robert Khuzami and his team at the Enforcement Division of the Securities and Exchange Commission. As he said to me at a December 9 hearing I chaired on the Fraud Enforcement and Recovery Act, these are complicated cases that take time to develop. However long it takes, whatever resources the SEC needs, Congress needs to continue to back the SEC and the Justice Department in their efforts to uncover wrongdoing.

“To restore the public's faith in our financial markets and the rule of law, we must identify, prosecute, and punish with stiff fines or prison those who broke the law. Their fraudulent conduct has severely damaged our economy, caused devastating and sustained harm to countless hard-working Americans, and contributed to the widespread view that Wall Street does not play by the same rules as Main Street.”

Kaufman co-authored the Fraud Enforcement and Recovery Act with Senators Patrick Leahy (D-VT) and Charles Grassley (R-IA), which provided additional resources for law enforcement authorities to pursue financial fraud connected to the financial crisis.


Eric D. Schwerin
Rosemont Seneca Partners, LLC
1010 Wisconsin Ave., NW
Suite 705
Washington, DC 20007
(202) 333-1880
eschwerin@rosemontseneca.com
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