Tuesday, June 08, 2010

Vampire Squid Releases Ink Cloud of Data

The Financial Crisis Inquiry Commission issued a subpoena to Goldman Sachs.
"Goldman Sachs has not, in our view, been cooperative with our requests for information, or forthcoming with respect to documents, information or interviews," Phil Angelides, the chairman of the Financial Crisis Inquiry Commission, told reporters on a conference call.
The deputy chairman, Bill Thomas, accused Goldman of stonewalling, and said, "They may have more to cover up than either we thought or than they told us"
...
 Mr. Angelides and Mr. Thomas both said that Goldman had inundated the panel with data -- about five terabytes, equivalent to several billion printed pages -- and dragged its feet on answering detailed questions about derivatives, securitization and other business activities.

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