By Tim Shoemaker
The Hill reports this morning:
A financial regulatory reform bill has at least one supporter outside of Congressional Democrats, Lloyd Blankfein, the head of investment bank Goldman Sachs.
“I’m generally supportive,” Blankfein told the Senate Permanent Subcommittee on Investigations.
Wall Street will benefit from the bill because it will make the market safer, Blankfein said.
“The biggest beneficiary of reform is Wall Street itself,” he said. “The biggest risk is risk financial institutions have with each other.”
Washington Examiner columnist Tim Carney writes:
While this probably sounds odd or unlikely to those who follow the President’s and Sen. Dodd’s populist, bomb-throwing rhetoric, it’s nothing new for readers of the Washington Examiner. Here are some of my articles on this:
* “Obama brings purrs from Wall Street ‘fat cats’,” Dec. 16, 2009
* “Beware the Goldman Sachs populist,” Jan. 22, 2010.
* “Obama’s cronies thrive at the intersection of Wall and K,” Feb. 17.
* “Goldman rallies for Obama on Wall Street ‘reform’ ,” April 16.
* “Goldman Sachs wants regulation, not laissez-faire,” April 21.
If you haven’t been keeping up with Carney’s analysis of how Wall Street will benefit from new finanical regulations, you’ll want to start by reading those articles listed above to gain a better understanding.