Kagen: We Still Have More Crooks to Catch

FOR IMMEDIATE RELEASE: 

April 16, 2010

KAGEN: WE STILL HAVE MORE CROOKS TO CATCH

APPLETON, WI- Congressman Steve Kagen, M.D. issued the following statement in response to the charges filed by the Securities and Exchange Commission today against Goldman Sachs for misleading and defrauding investors in selling a financial product based on subprime mortgages.

“The charges filed today are a good start, but we still have more crooks to catch,” said Dr. Kagen.

“Wall Street banks like Goldman Sachs put their personal profits before the best interests of their unsuspecting customers.  We must catch and punish all those who are responsible for looting our treasury and millions of taxpayers, following their trail wherever it may lead."

The SEC’s suit strikes at a practice that was one of the main causes of the financial crisis: the creation of poisonous investments derived from home loans made to borrowers who couldn’t afford the houses they were buying.

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