The chairman of the Senate Banking Committee says a government fraud lawsuit against Goldman Sachs should dissuade Republicans from attempting to block financial regulations pending before the Senate.
Sen. Christopher Dodd also said Monday that his legislation would have provided more transparency to a Goldman mortgage-related instrument that cost investors $1 billion.
Dodd said: "The markets would have known what was going first of all, so the market could have reacted to these things."
Democrats are facing unified Republican opposition to the bill. Dodd said his door remains open to Republicans to offer their recommendations. He said: "I'm waiting for that knock on the door."
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