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The Least Plausible Part Of The Report On The SEC's Case Against Goldman

Thursday, 14 Oct 2010 | 12:19 PM ET

There's plenty to quibble with in the inspector general's investigation of the SEC's case against Goldman Sachs.

The Goldman Sachs booth on the floor of the New York Stock Exchange
Getty Images
The Goldman Sachs booth on the floor of the New York Stock Exchange

But by far the least plausible part of the report is the conclusion that the SEC did not give advanced word about the investingation in a leak to the New York Times.

The SEC sent out apress release at 10:33 on April 16. A mere five minutes later, the New York Times had published over a thousand words about the case.

Look. Maybe Louise Story and Gretchen Morgensonare great reporters. But they aren't quite that quick. I doubt you could get this story through the fact checkers at the Times that quickly.

Someone was tipped off about the case. And that tip likely came from the SEC, since Goldman didn't know the SEC was filing the suit until the press release came out.

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