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Financial Crisis Inquiry Commission Subpoenas Goldman Sachs

Tyler Durden's picture




 

From Bloomberg: The Financial Crisis Inquiry Commission has submitted a subpoena to Goldman Sachs Group Inc., according to a spokesman for the panel. The subpoena requests documents and e-mails from Goldman Sachs, FCIC spokesman Tucker Warren said today in an interview. The subpoena was sent because Goldman Sachs hasn’t complied with requests for documents, Warren said.

 

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Mon, 06/07/2010 - 10:47 | 399553 LoneStarHog
LoneStarHog's picture

What legal/constitutional right does the FCIC have in issuing a subpoena to the independent Fourth Branch of Government?

Mon, 06/07/2010 - 10:50 | 399566 Me XMan
Me XMan's picture

HAHAHA! Good one.

Mon, 06/07/2010 - 10:48 | 399559 Mitchman
Mitchman's picture

Why just Goldman?

Mon, 06/07/2010 - 10:52 | 399568 firstdivision
firstdivision's picture

Nice to see the government is quite rehersed in not looking like they are incompetent...to bad they can only act and not truely be competent.

Mon, 06/07/2010 - 10:57 | 399575 Robert J Moran
Robert J Moran's picture

What kind of name is 'Financial Crisis Inquiry Commission'?!  I think "Financial Unraveling Cancer Kills" is MUCH better... The FUCK is calling boyz!!

Mon, 06/07/2010 - 10:59 | 399584 primefool
primefool's picture

FCIC is just pissed that the stock market is no longer going up 1% a day and their mutual funds are bleeding. G'dammit there will be hell to pay - send out dem supeenas ( Is a sub-peena like a small-peeni?)

Mon, 06/07/2010 - 11:05 | 399594 The Rogue Trader
The Rogue Trader's picture

It is becoming clear that no politician can be seen as supportive of the Banksters if they want an ice cube's chance in Hell of being re-elected....expect more attacks on the Banks politically as the summer run up to Fall elections commences...

Mon, 06/07/2010 - 11:15 | 399614 Muir
Muir's picture

The squid squirms?

Mon, 06/07/2010 - 11:15 | 399616 Hephasteus
Hephasteus's picture

Poor Goldman and Warren Buffet. They are so used to circumventing the law they just can't get a handle on this whole OBEY the law thing.

Mon, 06/07/2010 - 11:18 | 399620 sweet ebony diamond
sweet ebony diamond's picture

can't this wait until after the The Hampton's Summer Cocktail Circuit

Mon, 06/07/2010 - 13:15 | 399943 BlackBeard
BlackBeard's picture

Can  anyone hear the humming of shredders all over the country?

Mon, 06/07/2010 - 16:06 | 400305 ambrosiac
ambrosiac's picture

 

Autodesk Inc., the biggest maker of engineering-design software, sank 4.2 percent after Goldman Sachs removed the shares from its “conviction buy” list. [Bloomberg]

 

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John Walker, "The Final Days of Autodesk"

http://www.fourmilab.ch/autofile/www/chapter2_86.html

 

...

 

Epilogue: The Final Days

 

We are all at a wonderful ball where the champagne sparkles in every glass and soft laughter falls upon the summer air. We know, by the rules, that at some moment the Black Horsemen will come shattering through the great terrace doors, wreaking vengeance and scattering the survivors. Those who leave early are saved, but the ball is so splendid no one wants to leave while there is still time, so that everyone keeps asking, ``What time is it? What time is it?'' but none of the clocks have hands.

--Adam Smith, ``Supermoney''

One thing is beyond doubt: we are living through the final days of the original Autodesk. Whether the problems we're currently experiencing herald the waning days of Autodesk's leadership of the industry, or are merely the birthing pains of a new Autodesk, ready to accomplish as much in the 1990s as the old Autodesk did in the prior decade, will be determined in the next weeks and months.

To management I say this. The resources are at hand. The Autodesk team can and will accomplish whatever tasks you ask of them. The financial strength amassed by years of success allows overcoming any short-term barrier we may encounter. All that is needed is that you act. Act now. Act while the opportunity remains. Act while we still lead the market and the industry. Act while the customers and the market wait, in silence, for your response. Act while you still can.

If this message is understood and accepted, then the next few weeks should bring the first signs of change. In a few months, the first evidence of the new Autodesk will begin to appear in the marketplace. Things will start to get better. It will be obvious to everybody that Autodesk is again on the move, that the spirit, the confidence, and the energy that vaulted Autodesk into the front ranks of software companies in 1983 and 1984 and 1985 is now, in the early years of this new decade, carrying Autodesk further, toward leadership among the next generation of software companies.

If management does not act, this too will become obvious. It will be reflected in falling sales, declining profits, eroding market share, and eclipse of the company as an industry leader--loss of the ineffable sense that here is where the future is being built. If this happens, we will know what opportunities were squandered at the very moment Autodesk held the future in its hands, and we shall never forget.

 

 

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Ah...  1991.

 

Tue, 06/08/2010 - 05:55 | 401145 russki standart
russki standart's picture

Who Cares! The GS white shoe boys will make their calls and the Financial Crisis Inquiry Commission will get their smackdown. After the gargantuan bail out of the Too Big To Fail, they have more than enough money to buy, bribe and/or threaten their way out of trouble. This is just more politicial theatre for the dumbed down useless eaters.

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