Financial Crisis Inquiry Commission (FCIC) issues subpoena to Goldman Sachs, failing to Comply With Document and Interviews Requests

The Financial Crisis Inquiry Commission (FCIC) issued a subpoena to Goldman Sachs & Co. [GS] for failing to comply with the panel’s request for documents and interviews in a timely manner.

The FCIC is investigating the 2008 financial crisis and will release a report with recommendations by the close of 2010. The 10 member bi-partisan Commission headed by Phil Angelides said that it is committed to using its subpoena power if there is a lack of, or delay in, compliance.

Phil Angelides and Bill Thomas, the chairman and vice chairman of the Financial Crisis Inquiry Commission, announced the subpoena, but did not specify the exact documents sought by the panel.

The commission is charged with looking into the causes and consequences of the financial meltdown. Congress set up the commission, which is slated to issue a report by the end of the year.

Dr. Amarendra Bhushan Dhiraj

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CEO And Editorial Director at CEOWORLD Magazine
Dr. Amarendra Bhushan Dhiraj is the CEO and editorial director at CEOWORLD magazine, the leading global business magazine written strictly for CEOs, CFOs, top managers, company directors, investors, senior executives, business leaders, high net worth individuals, and the most globally powerful men and women.
Dr. Amarendra Bhushan Dhiraj