Goldman Sachs is facing a threat by the Financial Crisis Inquiry Commission to bring in outside accountants to comb through the bank's systems for data on its derivatives business, the panel's chairman has said.The commission will not back down from demands for information Goldman's executives have maintained they do not track, Phil Angelides told the Financial Times."We have a deep level of questioning about whether we're getting the straight scoop here and whether Goldman is working with us on information that they surely have," Mr Angelides, chairman of the US Congress-appointed commission.His comments mark the latest episode in the dispute between Goldman and the commission, which has scolded the bank for its "abysmal" response to the inquiry. The frustration of FCIC members was evident several weeks ago when two of Goldman's executives, Gary Cohn, president, and David Viniar, chief financial officer, told the panel the bank's accounting systems did not break out trading revenue generated strictly from derivatives.
The commission will not back down from demands for information Goldman's executives have maintained they do not track, Phil Angelides told the Financial Times.
"We have a deep level of questioning about whether we're getting the straight scoop here and whether Goldman is working with us on information that they surely have," Mr Angelides, chairman of the US Congress-appointed commission.
His comments mark the latest episode in the dispute between Goldman and the commission, which has scolded the bank for its "abysmal" response to the inquiry. The frustration of FCIC members was evident several weeks ago when two of Goldman's executives, Gary Cohn, president, and David Viniar, chief financial officer, told the panel the bank's accounting systems did not break out trading revenue generated strictly from derivatives.
