SEC may have destroyed documents, senator says

Marketwatch ^ | 8-17-2011 | Robert Orol

[johniegrad]

WASHINGTON (MarketWatch) — The Securities and Exchange Commission may have destroyed documents and compromised enforcement cases involving activity at large banks and hedge funds during the height of the financial crisis, according to allegations made by a lawmaker on Wednesday.

[johniegrad]

Subtitle of article: Grassley: Agency may have got rid of Goldman, Madoff documents

[Huck]

I think I saw a Taibbi piece out today along these lines. Will have to check later.

[thefactor]

I thought this was an article about another college football scandal.

[Huck]

here it is

http://www.freerepublic.com/focus/f-news/2765029/posts

[johniegrad]

Sorry to disappoint you.

[johniegrad]

Yep. The article indicated that the story broke in the Rolling Stone. Good to see our alphabet networks doing their terrific job of investigative reporting. Perhaps the evening news will cover Bachman eating a corn dog.

[Huck]

Taibbi has done a great job on these financial sector articles. The cartoons that go with them are very good, too. Nast-like.

[Steely Tom]

Evidence shredded by Enron: someone goes to jail.

Evidence shredded by SEC: one of those things.

[rockvillem]

I thought this was an article about another college football scandal.

LOL - that's exactly why I clicked on the link. Now that I see the underlying source is Rolling Stone I know what the template is going to be. Wall Street bad; government good. There's plenty of blame to go around for the financial crisis in 2008, but any explanation that doesn't point a big finger at the Dems behind the CRA, Fannie, Freddie, etc. is BS.

[johniegrad]

How do you turn an accusation of the SEC tampering with evidence in criminal investigations as “government good”?

[Mr. K]

THROW THEIR ASSES IN JAIL~! NOW!!!

[rockvillem]

Sorry I wasn’t really clear - was referring to the underlying Taibbi Rolling Stone article linked to in post 4. The thrust is more that the government has been corrupted by corporate interests. The corruption may indeed have occurred, but somehow I doubt that Rolling Stone is ever going to consider the role that any liberal Democrat and/or the government played in the financial crisis. That was all.

[johniegrad]

Thanks.

[snoringbear]

“I thought this was an article about another college football scandal.”

LOL! I thought the same thing. Living in Texas and watching the dance Texas A&M is doing so to escape the Big 12, I was thinking that the SEC (South Eastern Conference) may have destroyed some doc's concerning making overtures to A&M :) Actually, I find the SEC as in football a heck of a lot more interesting than the SEC as in the Securities and Exchange Commission...

[CharlyFord]

The public was never supposed to know where that money went. A significant part of it went to foreign banks and investors.

[Texas Fossil]

Flynn also alleged that the agency destroyed documents and information collected for preliminary investigations at Wells Fargo & Co. WFC , Bank of America Corp. BAC , Citigroup C , Credit Suisse CS , Deutsche Bank DB Morgan Stanley MS and the now-bankrupt Lehman Brothers.

Hmmm! What did they cover up now? Transparency? What Transparency?

[Texas Fossil]

The public was never supposed to know where that money went. A significant part of it went to foreign banks and investors.

Bingo! We have a winner!

[spankalib]

Perhaps the evening news will cover Bachman eating a corn dog.

lol
thanks johnie, I needed the laugh.

[opentalk]

As you read through this article it becomes obvious there is a culture of corruption at the SEC.

The next election will not be about one man or woman, but who and what culture they bring to Washington. Business as usually with, Goldman Sachs, CFR, globalist ..is not an option if we are going to thrive.

SEC Rewards Investigator Who Botched Madoff Probe Judicial Watch

[TADSLOS]

Bet they still have their porno though.