Monday, June 7, 2010

Golmand Sachs Gets Subpoenaed: Provides BILLIONS of Pages Of Documents


WASHINGTON (AP) -- A panel probing the causes of the financial meltdown has issued a subpoena for documents from Goldman Sachs Group Inc., accusing the firm of stonewalling an investigation.
The Financial Crisis Inquiry Commission said Monday it had sent Goldman numerous requests for information, documents and interviews.
Goldman didn't respond to some questions, said panel chairman Phil Angelides. With others, it provided billions of pages of documents -- far more than the commission staff can process.
"This has been a very deliberate effort over time to run out the clock," FCIC co-chair Bill Thomas said in a call with reporters. He said Goldman is "about mischief-making" and called the bank's actions "unacceptable".
"We did not ask them to pull a dump truck to our offices and dump a bunch of rubbish," Angelides added.
At least six other investment banks answered similar requests from the commission without incident, Thomas said.

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