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Issa's office says Google buy is one of 'factors at work' on Goldman

I just checked in with Kurt Bardella, the press secretary for Rep. Darrell Issa (R-Calif.), on whether the easily-explicable Google AdWords story cited in Issa's letter to the SEC discredits the idea that last week's lawsuit against Goldman Sachs could have been politicized.

"It's part of the entire chronology," said Bardella. "That story might be entirely innocuous. It doesn't take away from the other questions about this lawsuit -- whether the timing had anything to do with the president's push on financial reform, or whether it was a coincidence that buried other reports on the lack of enforcement action. With what we know now, it's hard to avoid the conclusion there were other factors at work." The decision, Bardella pointed out, "ended up costing Goldman $10 billion in one day."

Issa's letter has garnered explosive coverage -- I count more than 500 stories in Google News about it, and Issa took to CNBC Wednesday to say that the SEC lawsuit "reeks" of political motivation. The Google story doesn't hold water, but Issa's office is sticking by the rest of the questions and has been told to expect an SEC response soon.

Meanwhile, some Democrats are talking about a criminal investigation of Goldman Sachs.

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By David Weigel  |  April 21, 2010; 2:19 PM ET
Categories:  Financial reform  | Tags: Darrell Issa, Goldman Sachs, Google, Google News, Lawsuit, Politics, SEC, Searching  
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