FDIC Threatening Audit of Goldman Sachs

We can only hope. FDIC Threatens Goldman Sachs with Audit on Derivatives:

The FCIC now says it's considering sending in outside accountants to audit Goldman's systems for data on its derivatives business, the Financial Times reports.

The FCIC will not back down from demands for information that Goldman's executives have maintained the company doesn't track, FCIC Chairman Phil Angelides told the Financial Times. He promised the commission would press Goldman hard.

The information the FCIC is seeking relates to Goldman's derivatives trading revenue, but Goldman executives claim such data would be meaningless because it would only show one side of the trade and ignore the other

More at Daily Finance.

Recall how Goldman Sachs settled for a ante fee of $500 million with the SEC for their Abacus "stuffed" CDO, yet now it comes out Goldman Sachs was a funnel of U.S. taxpayer money, via AIG, to foreign banks and financial institutions for a 100% payout, no hair cut required.

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