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Goldman Subpoenaed By Financial Crisis Commission


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http://uk.reuters.com/article/idUKTRE6563CB20100607

A government commission investigating the 2008 financial crisis has served a subpoena on Goldman Sachs Group Inc (GS.N) after the bank flooded the panel with 2.5 billion of pages of digitized records.

The Financial Crisis Inquiry Commission had asked Goldman to provide documents and grant interviews in connection with the panel's probe.

In response, the Wall Street firm produced 5 terabytes of records, with each terabyte containing 500 million pages of digitized records, FCIC Chairman Phil Angelides told reporters on a conference call.

FCIC Vice Chairman Bill Thomas said Goldman, knowing the panel's limited resources, had sent commission staff hunting for a needle in a haystack.

"We expect them to provide us with the needle," Thomas said.

The FCIC called Goldman's response "abysmal." Angelides and Thomas said other banks had received and complied with similar FCIC requests.

Goldman spokesman Samuel Robinson said in a statement that "we have been and continue to be committed to providing the FCIC with the information they have requested."

Goldman shares were down $3.13, or 2.2 percent, to $139.27 in afternoon trading.

I still think Goldman will be hung out to dry, someone is going to have to take the blame and Goldman has done everything to ensure that they will get picked.

Although I take my hat off to them by sending 2.5bn pages. If you don't want to get caught give them everything knowing full well no one has the manpower to go through every single document.

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http://uk.reuters.co...E6563CB20100607

I still think Goldman will be hung out to dry, someone is going to have to take the blame and Goldman has done everything to ensure that they will get picked.

Although I take my hat off to them by sending 2.5bn pages. If you don't want to get caught give them everything knowing full well no one has the manpower to go through every single document.

If the put the 5TB up on the web I am sure the powers of the Internet community could find the needle.

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It really sums up the mind set of these people.

I find it impossible not to regard all of them with complete and utter contempt. Not that it makes any difference since they're above the law and too rich to care but their total lack of any semblance of moral compass is still shocking.

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It really sums up the mind set of these people.

I find it impossible not to regard all of them with complete and utter contempt. Not that it makes any difference since they're above the law and too rich to care but their total lack of any semblance of moral compass is still shocking.

They give their employees (and even contractors) paid time off for do-gooding in the local communities. Teaching blacks to read and so on.

They donated a huge part of Patagonia to an environmental charity.

Seems no matter what you do some people are never grateful.

(and before you ask, yes the banks are grateful - thank you for all that lovely bailout money)

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If the put the 5TB up on the web I am sure the powers of the Internet community could find the needle.

That would be a very good idea. I kind of Groklaw.net but for Goldmans, not SCO/Microsoft.http://www.groklaw.net

Edited by SirStirlingSlumlord
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They give their employees (and even contractors) paid time off for do-gooding in the local communities. Teaching blacks to read and so on.

They donated a huge part of Patagonia to an environmental charity.

Seems no matter what you do some people are never grateful.

(and before you ask, yes the banks are grateful - thank you for all that lovely bailout money)

Mafia bosses usually take good care about their community too, Giamacan drug lords too, that doesn't mean their are any less criminals, it's purely a strategy to use as a mitigating circumstance when the get caught.

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Mafia bosses usually take good care about their community too, Giamacan drug lords too, that doesn't mean their are any less criminals, it's purely a strategy to use as a mitigating circumstance when the get caught.

And if Mafia bosses do this it would be foolish for anyone to say they have a "total lack of any semblance of moral compass". Not saying they're saints, but the lack of gratitude is just going to encourage them to not be as nice next time.

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lack of gratitude is just going to encourage them to not be as nice next time.

Gratitude for what?? That they donate a tiny percentage of their ill gotten gains to charitable causes?

So if I were to break in to your house and steal all your valuables, but then donate the TV and the stereo to an old people's home I would deserve gratitude?

What a twisted way of thinking.... :blink:

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Gratitude for what?? That they donate a tiny percentage of their ill gotten gains to charitable causes?

So if I were to break in to your house and steal all your valuables, but then donate the TV and the stereo to an old people's home I would deserve gratitude?

What a twisted way of thinking.... :blink:

If you're talking about the Mafia, I couldn't tell you.

If you're asking about Goldman, what about these 680,000 acres of wilderness?

http://news.bbc.co.uk/2/hi/americas/7853076.stm

I like guanacos, carpentero birds and the landscape there. So I'm grateful to them - as a shareholder I suppose technically some of this land was mine and Hank stole it from me to give to the Wildlife Conservation Society - but I'm still glad he did.

Sorry to go all soft on you, but deep down I'm a philanthropist.

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If you're asking about Goldman, what about these 680,000 acres of wilderness?

http://news.bbc.co.uk/2/hi/americas/7853076.stm

I like guanacos, carpentero birds and the landscape there. So I'm grateful to them - as a shareholder I suppose technically some of this land was mine and Hank stole it from me to give to the Wildlife Conservation Society - but I'm still glad he did.

Sorry to go all soft on you, but deep down I'm a philanthropist.

Compared to all the wars and destruction and exploitation of third world countries financed by the banksters those acres are just a token gesture, that in no way justifies the thievery and robbery the banksters are committing on a daily basis.

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Guest DissipatedYouthIsValuable

If the put the 5TB up on the web I am sure the powers of the Internet community could find the needle.

Good idea.

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