Sen. Grassley Grills Goldman Sachs Over Hefty Fees For 'Build America' Bond

The Huffington Post reports:

Sen. Chuck Grassley (D-Iowa) is concerned that Goldman Sachs will collect sizable fees from its role as an underwriter of the 'Build America' bonds that play a key role in the Senate's latest jobs bill.

State and local governments will be allowed to sell the taxable bonds to combat sagging budgets, but Grassley worries that the program could siphon "off a lot of taxpayer dollars that are meant to help cities and states."

Grassley directed his query specifically at Goldman because of a new ad the firm published in favor of the program. In the ad, Goldman touts its role as "one of the principal underwriters."

Key to Grassley's argument, it should be noted, is an assertion that Wall Street firms have already charged local governments approximately 30 percent more to underwrite Build America Bonds than they charged for other bonds

As of this posting , the Huffington Post has mislabeled Grassley as a Democrat.