from nytimes: An enforcement lawyer at the Securities and Exchange Commission says that the agency illegally destroyed files and documents related to thousands of early-stage investigations over the last 20 years, according to information released Wednesday by Congressional investigators. The destroyed files comprise records of at least 9,000 preliminary inquiries into matters involving notorious individuals like Bernard L. Madoff, as well as several major Wall Street firms that later were the subject of scrutiny after the 2008 financial crisis, including Goldman Sachs, Lehman Brothers, Citigroup and Bank of America. The S.E.C. is the very agency that is charged with making sure that Wall Street firms retain records of their own activities, and has brought numerous enforcement cases against firms for failing to do so.
related econocrash updates:
report says US investigating s&p over mortgages*
20 signs of possible economic apocalypse in 2012*
10 signs that economic riots & civil unrest inside US more likely than ever*
half of US believe austerity will lead to violent unrest*
video: 'bad hair bandit' nets 18 bank robberies in 9 months*
states study online gambling to bring needed revenue*
video: what is 'corporate personhood' and why does it matter?*
fair use notice: this site contains copyrighted material the use of which has not always been specifically authorized by the copyright owner. we are making such material available in our efforts to advance understanding of environmental, political, human rights, economic, democracy, scientific, & social justice issues, etc. we believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US copyright law. In accordance with title 17 usc section 107, the material on this site is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes.