SEC's probe cost Boehner office $110K

Source: The Hill

December 13, 2007
House Minority Leader John Boehner (R-Ohio) spent more than $110,000 in legal fees this year to deal with a Securities Exchange Commission investigation of possible insider trading at student lender Sallie Mae.

Four staffers interviewed by SEC investigators were later issued clearance letters indicating no action would be taken against them, but the investigation is ongoing and the link to Boehner could highlight his political ties to the now-scandal-tarred student loan industry.

“The SEC contacted the leader’s office for information and assistance, which we provided in a complete, thorough and timely fashion earlier this year,” Boehner spokesman Brian Kennedy said in response to a request for comment.

The SEC is investigating whether Sallie Mae Chairman Al Lord had inside information about President Bush’s budget proposal, which when it was released in February proposed cuts in subsidies for student loan companies.





Read more: http://thehill.com/leading-the-news/secs-probe-cost-boehner-office-110k-2007-12-13.html

Just trying to protect those poor students.

"concerned that the budget bill pending before Congress would threaten the student loan program and harm students,”


Suuuuuurre....

and Boehner's office provided everything in a complete and timely manner why would there need to be so much spent on Lawyers? Another Republican answer that makes one's eyes roll :crazy:

(Not the fun kind) for what he's done to Rep. Jim McDermott.