Rep. Frank: Goldman charges improve chances for reg reform

Rep. Frank: Goldman charges improve chances for reg reform
By Michael O'Brien - 04/19/10 08:49 AM ET


Civil charges against Wall Street giant Goldman Sachs strengthens lawmakers' case for financial reform, Rep. Barney Frank (D-Mass.) said Monday.

Frank, the chairman of the House Financial Services Committee, said that allegations of fraud against Goldman which were leveled late last week bolsters the political case for reform legislation as it begins to make its way before the whole Senate.

"It does, although I thought they were pretty good anyway," Frank said when asked whether the charges improved the chances for financial reform's passage during an appearance on CNBC.

"It reinforces the need for much of what we were doing," he said also during his appearance.

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http://thehill.com/blogs/blog-briefing-room/news/92963-barney-frank-says-goldman-charges-improve-chances-for-reg-reform