06/22/2010 05:12 am ET Updated May 25, 2011

Simon Johnson: Ted Kaufman Is Our Ferdinand Pecora

April 23 (Bloomberg) -- Much of the discussion around the Securities and Exchange Commission case against Goldman Sachs Group Inc. has focused on the legal issues. To the extent there has been analysis of the political dimensions, the focus has been mostly on how this may affect the fate of Senator Christopher Dodd's financial overhaul bill.

These issues are interesting, but we shouldn't lose track of the broader economic and political context for this case.

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