Pandora's box being opened? Makes one wonder what else has been hidden/destroyed/suppressed over the years....(I still want to see the sealed files being opened on Bush Jrs. (aka The Shrub) insider trading..or were those destroyed, too???)
marketwatch.com
Aug. 17, 2011, 5:21 p.m. EDT
SEC may have destroyed documents, senator says
Grassley: Agency may have got rid of Goldman, Madoff documents
By Ronald D. Orol, MarketWatch
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 in 2008, according to allegations made by a lawmaker on Wednesday.
“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.
The allegations were made by SEC enforcement attorney, Darcy Flynn, in a letter to Grassley. Flynn is a current employee, and according to the letter, received a bonus for his past year’s work.
Flynn alleges the SEC destroyed files related to matters being examined in important cases such as Bernard Madoff and a $50 billion Ponzi scheme he operated as well as an investigation involving Goldman Sachs Group Inc. trading in American International Group credit-default swaps in 2009.
Flynn also alleged that the agency destroyed documents and information collected for preliminary investigations at Wells Fargo & Co. , Bank of America Corp. , Citigroup , Credit Suisse , Deutsche Bank , Morgan Stanley and the now-bankrupt Lehman Brothers.
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The SEC added that it “cannot say with certainty that no such documents have been destroyed over the past 17 years.” Read Grassley's letter to the SEC
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