Financial crisis panel hits Goldman Sachs for dumping 2.5 billion pages

The special panel investigating the financial crisis on Monday lashed out at Goldman Sachs for pulling up a "dump truck" and overwhelming the commission with 2.5 billion pages of documents.

"We did not ask them to pull up a dump truck to our offices to dump a bunch of rubbish," said Phil Angelides, chairman of the Financial Crisis Inquiry Commission (FCIC), the congressionally-mandated panel looking into the 2008 meltdown.

The commission issued a subpoena to Goldman on Friday for information, documents and interviews. "Our view is this has been a very deliberate effort over time to run out the clock," Angelides said.


The commission is due to issue a report in December on the causes and consequences of the financial crisis.

Angelides and Bill Thomas, vice chairman of the commission, said six other banks complied easily with the documents request.

"We should not be forced to play, 'Where's Waldo?' on behalf of the American people," Angelides said.

Angelides said Goldman quickly responded on Friday to the subpoena to set up additional interviews.

"We have been and continue to be committed to providing the FCIC with the information they have requested," Goldman Sachs said in a statement on Monday.