Benzinga's Political Round Up (GS, GM, USO)

Goldman Sachs Group GS CEO Lloyd Blankfein has agreed to testify for the U.S. government at the coming trial of Raj Rajaratnam, who has been accused of insider trading.

A federal judge decreed yesterday he would approve the bankruptcy plan for "Old GM," which would allow a distribution of General Motors GM stock and warrants to creditors.

The co-chairman of the presidential panel that investigated the Gulf of Mexico oil spill said yesterday that the regulatory body that oversees offshore drilling is not reliable.