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Senator Chuck Grassley, Republican of Iowa, says SEC may have destroyed documents“From what I’ve seen, it looks as if the SEC might have sanctioned some level of case-related document destruction,” said Sen. Chuck Grassley, Republican of Iowa, in a letter to the agency’s chairman, Mary Schapiro. “It doesn’t make sense that an agency responsible for investigations would want to get rid of potential evidence. If these charges are true, the agency needs to explain why it destroyed documents, how many documents it destroyed over what timeframe, and to what extent its actions were consistent with the law.” Agency staff “destroyed...

The Securities and Exchange Commission inspector general has agreed to a request from Rep. Darrell Issa, R-Calif., to probe the timing and political motivations of the SEC’s $550 million settlement with Goldman Sachs in a mortgage securities fraud case:m SEC Inspector General H. David Kotz agreed in April to a request from U.S. Representative Darrell Issa, a California Republican, that he probe whether politics prompted the lawsuit against Goldman Sachs. (Snip) Aside from the timing, many observers scoffed at the settlement. The $550 million settlement is pocket change compared to Goldman’s $162 billion in assets