White House officials and Democratic lawmakers seized on internal e-mails from Goldman Sachs Group Inc. to push for curbs including a ban on proprietary trading as they brace for a Senate showdown on Wall Street oversight.
Democratic Sen. Christopher Dodd, chairman of the Senate Banking Committee, and Sen. Sherrod Brown, also a Democrat on the panel, said Sunday the e-mails help show why rules such as the Volcker rule are needed. Obama administration adviser Austan Goolsbee called the proposal to end trading for a bank’s own account “highly relevant” to ending conflicts of interest.
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