Less than 30 minutes after the Securities and Exchange Commission announced its lawsuit against Goldman Sachs, the Democratic National Committee sent mass e-mails proclaiming that the action shows the need for passage of financial reform legislation –- currently the top priority for President Obama.

By Fred Lucas at CNSNews.com

Less than 30 minutes after the Securities and Exchange Commission announced its lawsuit against Goldman Sachs, the Democratic National Committee sent mass e-mails proclaiming that the action shows the need for passage of financial reform legislation –- currently the top priority for President Obama.

A similar message — the need for financial reform legislation — was part of an online advertising campaign posted hours later by the DNC. Before the SEC even made the announcement about its lawsuit, the news was leaked to The New York Times.

Many Republicans have questioned the timing of the lawsuit against Goldman Sachs, and SEC Inspector General H. David Kotz has announced that his office will investigate whether SEC officials coordinated with political officials, something that would violate rules insulating the autonomous commission from political considerations.

The SEC’s ethics rules state that its officials must “reject any effort by representatives of the executive or legislative branches of the government to affect their independent determination of any matter being considered by the Commission.”

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