Moody’s Cooperates with Financial Crisis Panel Subpoena

July 12, 2010 by · Leave a Comment
Filed under: Financial Crisis, General 

Moody’s Corporation began handing over documents one day after the Financial Crisis Inquiry Commission issued the company a subpoena for failing to comply with requests for documents. Moody’s missed a March 23 deadline to release documents that the panel requested months earlier.

The panel’s chairman, former California state treasurer Phil Angelides wouldn’t specify what the documents were, stating only that they were “essential documents and emails relevant to our investigation.”

The commission had cause to worry about how quickly documents were supplied: They only have until December 15 to complete their investigation and report on the causes of the financial crisis.

Moody’s said in a statement that it “continues to devote substantial resources to producing documents and making our people available” to the committee.

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