Sen. Judd Gregg (R., N.H.) said that it would be “disingenuous” for Democrats to “overreact” to fraud charges leveled at Goldman Sachs in an effort to speed the passage of their financial-reform bill:
“It’s really disingenuous for some people to pursue regulatory reform based off this one instance,” he said on MSNBC. “This is a single event, we don’t even know what the outcome will be.”
“We should not legislate based on anecdotal events,” Gregg said. “This is a big piece of legislation, we shouldn’t overreact.”
Meanwhile word is emerging that John Paulson, the hedge-fund manager and mortgage shorter believed to have been behind the portfolio that got Goldman in trouble, acted in a fund-raising capacity for both Democrats and Republicans. Paulson has not been accused of any wrongdoing by the SEC.