Goldman Accused of Thwarting Financial Crisis Panel

[swag]

Source: CNBC

The heads of the panel investigating the causes behind the financial crisis lambasted Goldman Sachs today, accusing the company of “deliberately and disruptively” refusing to cooperate with their investigation.

Phil Angelides, the chairman of the Financial Crisis Inquiry Commission, said that while the overwhelming number of financial firms from which the FCIC has sought documents or information have complied, Goldman has not. Instead, Goldman has been “dumping” an overwhelming volume of documents on the FCIC, which has a staff of just over 50 people.

"We did not ask them to pull up a dump truck to our offices to dump a bunch of rubbish," Angelides said during a conference call following the announcement that the FCIC had sent Goldman a subpoena Friday.

The tone of both Angelides and FCIC Vice Chairman Bill Thomas was notably angry. “We’re not going to let the American people be played for chumps here,” Angelides said. “We should not be forced to play 'Where’s Waldo' on behalf of the America people.”


Read more: http://www.cnbc.com/id/37553237

[DJ13]

1. The tone of both Angelides and FCIC Vice Chairman Bill Thomas was notably angry.

Here comes another sternly worded letter!

[dixiegrrrrl]

2. Remember when the DOJ did the same thing during

Attorneygate?

[truedelphi]

3. I cannot forget those bad moments. n/t

[MannyGoldstein]

4. Don't Worry, There Will Be Consequences!

More bailouts for Goldman and high government posts for their employees.

[nichomachus]

5. We will show them!

Maybe some bonuses and few private jets will show them who's boss.

[Octafish]

6. Goldman Sachs spent months dodging questions, FCIC says

Source: USA Today

By David Lieberman, USA TODAY

NEW YORK — Goldman Sachs tried to hide potentially embarrassing information and sidetrack a bipartisan congressional investigation into the causes of the worst recession since the 1930s, the Financial Crisis Inquiry Commission said Monday.
The 10-member commission subpoenaed Goldman on Friday. The FCIC said Goldman wasted months failing to arrange times for the commission to interview senior executives. In addition, the financial services giant allegedly buried responses to specific information requests in millions of pages of unneeded documents.

"They stretched us out thinking they played the game cleverly," FCIC Vice Chairman Bill Thomas said. "They may have more to cover up than we thought."

SNIP...

The FCIC has asked Goldman for information about the same kind of investment that's at issue in the SEC case.

The commission, which is scheduled to report its findings by Dec. 15, has already held several hearings and subpoenaed about a dozen executives including Berkshire Hathaway CEO Warren Buffett.

The FCIC says that many of the subpoenas are deemed as "friendly"— for example, some executives ask for one as a formality before they testify.


Read more: http://www.usatoday.com/money/industries/banking/2010-06-07-goldman-sachs-subpoena_N.htm

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"Friendly Subpoenas." I'd laugh if it didn't hurt so much to think what's happened to the Government of the United States.

[LakeSamish706]

7. What ever happened to those subpoenas that Rove got anyway? Whoops, not supposed

to mention that. Subpoenas, what a crock of shit. The only thing that will get their attention is the Sargent at arms being sent out with handcuffs.

[Octafish]

10. Goldmine Sacked has gamed the system -- all the GS players are govt and ex-govt.

Know your BFEE: Goldmine Sacked or The Best Way to Rob a Bank Is to Own One

I'm so pissed. The rich get money to bail out their bad bets and the rest of America gets told to tighten its belt, there's no money for jobs, health care, schools or the environment.

[Xipe Totec]

8. Shocking. I know... nt

[Octafish]

11. Get my loot to Switzerland, ASAFP

Know your BFEE: Phil Gramm, the Meyer Lansky of the War Party, Set-Up the Biggest Bank Heist Ever.

Who says Government employees aren't as well compensated as their counterparts in private industry? They're one and the same crooks.

[Warren Stupidity]

9. Arrest Goldman Sachs

Corporations are persons. Arrest the criminals. Seize their assets.

[Octafish]

12. That'd be one Grand Jury on which I wouldn't mind sitting for a few years.

Here's a start for some Friendly Subpoenas:

Henry Paulson, Banker to the BFEE

Hank, after a few weeks in the Supermax general population, would be more inclined to roll out the old books and roll over the old pals.