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Saturday, January 30, 2010 10:33:52 AM
The subcommittee, part of the Homeland Security and Governmental Affairs Committee , is led by veteran Democratic Sen. Carl Levin of Michigan , who said last year that his panel was "looking into some of the causes and consequences of the financial crisis."
The panel has a history of conducting formal, highly secretive investigations in which it typically issues subpoenas for documents and witnesses, produces extensive reports and sometimes refers evidence to the Justice Department for possible criminal prosecution.
It couldn't immediately be learned whether the panel has subpoenaed Goldman executives or company records. However, the subcommittee has issued at least one major subpoena seeking records related to Seattle -based Washington Mutual , which collapsed in September 2008 after being swamped by losses from its subprime lending. J.P. Morgan Chase then purchased WaMu's banking assets.
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Chortle, Chortle & Gaffaw
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