Panel accuses Goldman of stalling: So what else is new?

By JOHN D. MCKINNON And SUSANNE CRAIG
WSJ

WASHINGTON—A commission probing the financial crisis denounced Goldman Sachs Group Inc., saying the firm first dragged its feet over requests for information then dumped hundreds of millions of pages of documents on the panel.

The Financial Crisis Inquiry Commission issued a subpoena to Goldman, demanding that the firm provide a key for identifying customer names and a way of matching up specific documents to the commission's requests for information. The subpoena also demanded documents concerning Goldman's mortgage-backed derivative securities, which are central in current federal probes of the firm.

The commission is particularly interested in Goldman's dealings with American International Group Inc., one of the firms at the center of the financial crisis in 2008. The subpoena demanded interviews with a number of executives, including Chief Executive Lloyd Blankfein, as well as the executive who's most knowledgeable about "transactions between AIG and Goldman," the FCIC said.

(More here.)