News release: “Today, Chairman Phil Angelides and Vice Chairman Bill Thomas announce that the Financial Crisis Inquiry Commission (FCIC) has issued a subpoena to Moody’s Corporation for failing to comply with a request for documents in a timely manner. In seeking documents and testimony from public agencies and companies, the Commission has made it clear that it is committed to using its subpoena power if there is a lack of, or delay in, compliance. Failure to comply with a Commission request is viewed with the utmost seriousness, as the Commission will not be deterred from getting desired information. In creating the Financial Crisis Inquiry Commission under the Fraud Enforcement and Recovery Act of 2009, Congress granted the Commission the power to “require, by subpoena or otherwise, the attendance and testimony of witnesses and the production of books, records, correspondence,
memoranda, papers, and documents.”