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Some subpoenas have already been issued, Mr. Blumenthal said, and a task force will begin interviewing witnesses soon.
At the same time, the administration has supported efforts in Congress to create a federal shield law that would allow judges to quash some subpoenas to journalists.
By launching such an inquiry and sending out some subpoenas, the Obama Administration could signal to the public that it is serious about pursuing Wall Street wrongdoing, but also that it is intends to respect the law.
The committee, which will have subpoena power, will then meet to discuss how to proceed; it will probably issue some subpoenas later in the day.
Executive privilege is a principle that allows the president, his aides and Cabinet officials to flout some subpoenas in order to protect confidentiality in the executive branch, according to The New York Times, although the definition has relatively narrow interpretations.
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A24 Document Request Rebuffed The White House said it would invoke executive privilege and lawyer-client privilege, as it told the House Government Reform Committee that it would not surrender some documents subpoenaed in an inquiry about missing e-mail messages.
Managers, actors, businessmen and lawyers are being questioned, and in some cases subpoenaed, by the federal government in a widening grand jury investigation of suspected illegal wiretapping that has moved beyond Los Angeles to New York, according to entertainers, producers, lawyers and others involved in the inquiry.
Mr. Cuomo has already obtained some evidence through subpoenas.
Customers fled, some after receiving subpoenas from Coke's lawyers.
They had issued some 600 separate subpoenas and collected millions of company documents.
At least some of the subpoenas are related to Michael T. Flynn, the former national security adviser.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com