Is the SEC Covering Up Wall Street Crimes?

[M3Bahn]

Is the SEC Covering Up Wall Street Crimes?A whistle-blower claims that over the past two decades, the agency has destroyed records of thousands of investigations, whitewashing the files of some of the nation's worst financial criminals.

Imagine a world in which a man who is repeatedly investigated for a string of serious crimes, but never prosecuted, has his slate wiped clean every time the cops fail to make a case. No more Lifetime channel specials where the murderer is unveiled after police stumble upon past intrigues in some old file – "Hey, chief, didja know this guy had two wives die falling down the stairs?" No more burglary sprees cracked when some sharp cop sees the same name pop up in one too many witness statements. This is a different world, one far friendlier to lawbreakers, where even the suspicion of wrongdoing gets wiped from the record.

That, it now appears, is exactly how the Securities and Exchange Commission has been treating the Wall Street criminals who cratered the global economy a few years back. For the past two decades, according to a whistle-blower at the SEC who recently came forward to Congress, the agency has been systematically destroying records of its preliminary investigations once they are closed. By whitewashing the files of some of the nation's worst financial criminals, the SEC has kept an entire generation of federal investigators in the dark about past inquiries into insider trading, fraud and market manipulation against companies like Goldman Sachs, Deutsche Bank and AIG. With a few strokes of the keyboard, the evidence gathered during thousands of investigations – "18,000 ... including Madoff," as one high-ranking SEC official put it during a panicked meeting about the destruction – has apparently disappeared forever into the wormhole of history.

http://www.rollingstone.com/politics...rimes-20110817



S.E.C. Files Were Illegally Destroyed, Lawyer Says

http://www.nytimes.com/2011/08/18/bu...eges.html?_r=2

[NYCGP]

read this article today.. verrrrrrry interesting.

[dth656]

Originally Posted by M3Bahn

Is the SEC Covering Up Wall Street Crimes?A whistle-blower claims that over the past two decades, the agency has destroyed records of thousands of investigations, whitewashing the files of some of the nation's worst financial criminals.




http://www.rollingstone.com/politics...rimes-20110817



S.E.C. Files Were Illegally Destroyed, Lawyer Says

http://www.nytimes.com/2011/08/18/bu...eges.html?_r=2

uhm no sh*t. the SEC, fed, treasury, are all LOADED w/ wallstreet alums (take goldman sachs as an example). guess which was the only counterparty that AIG made whole (using taxpayer money) during the financial collapse...yep, you guessed it, goldman sachs.

i seriously don't understand why more americans aren't more irate about any of this. maybe basic finance and economics are beyond them--who knows. a lot of my friends from grad school went into banking and trading, and many of them admit its a charade.

[M3Bahn]

Originally Posted by dth656

uhm no sh*t. the SEC, fed, treasury, are all LOADED w/ wallstreet alums (take goldman sachs as an example). guess which was the only counterparty that AIG made whole (using taxpayer money) during the financial collapse...yep, you guessed it, goldman sachs.

i seriously don't understand why more americans aren't more irate about any of this. maybe basic finance and economics are beyond them--who knows. a lot of my friends from grad school went into banking and trading, and many of them admit its a charade.

Banksters are above the law.

[solefald]

Matt Taibbi is a brilliant writer who has been investigating and writing about this shit for years. I am reading his Griftopia book right now.

If you are interested in how, why and with who's help we go to where we are right now, please read it. You won't be sorry. It's a great read and pretty down to earth and easy to understand.

[M3Bahn]

Originally Posted by NYCGP

read this article today.. verrrrrrry interesting.

Too emo to post it?

[NYCGP]

Originally Posted by M3Bahn

Too emo to post it?

I can't post everything. I thought I would wait for you to finish your epic fap sesh first.

[M3Bahn]

Originally Posted by NYCGP

I can't post everything. I thought I would wait for you to finish your epic fap sesh first.

Oh the youtube chick thread?

I think we were the only ones who posted in it.

But they love the ugly pink panties thread.

[Socom]

Too expensive to litigate perhaps.