The political backlash over the SEC's civil fraud charges against Goldman Sachs was built on the notion that the agency timed the announcement of the charges to buttress the case for financial reform and to blunt the news that it had botched the Allan Stanford investigation. But a report by the SEC's Inspector General disputes the allegations, reports the Washingon Post. The report found that the timing was driven by legitimate concerns.

SEC officials wanted to bring charges as early as December, but waited for a variety of reasons. As officials solidified their case internally, the process for an April announcement was set in motion. Toward that date, the process was driven mainly by concerns that its announcement would conflict with an announcement by the New York AG of charges against Quadrangle, reports the Post.

Ultimately, the New York AG announcement was made on April 15, with Goldman Sachs following on April 16. The IG did not turn up evidence that the Stanford case played a role. What's also interesting is that the SEC weighed charging someone besides Fabrice Toure. The identity of that individual has not been made public.

For more:
- here's a Washington Post article

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