California Rep. Darrell Issa, the top Republican on the House Oversight and Government Reform Committee, said it was "disturbing that high-ranking officials within the SEC were spending more time looking at porn than taking action to help stave off the events that put our nation's economy on the brink of collapse."
In other words, events that Issa voted for, like repeal of Glass-Steagall and ensuring that credit default swaps would be unregulated.
Now watch the G.O.P. hump Goldman Sachs' leg, with the assistance of the Associated Press.
The memo provides fresh ammunition for Republicans who suspect the timing of the SEC's lawsuit last week against Wall Street powerhouse Goldman Sachs Group Inc. News of the suit came as the Senate prepared to take up a sweeping overhaul of the rules governing banks and other financial companies.
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