Congressional hearings into the activities of Goldman Sachs Group
Inc. (NYSE:GS) came at a fortuitous time for proponents of
financial reform. Testimony from Lloyd Blankfein and company on
Capitol Hill coincided with the debate about financial reform in
the Senate. Efforts to combine the House and Senate bills, however,
is happening in a less heated environment, says Paul, Hastings,
Janofsky & Walker LLP's Lawrence Kaplan, and should result in a
toned-down final version.