Thursday, August 18, 2011
Let the cover up begin!
We must now have long drawn out and contentious hearings in which we grant immunity to all the guilty parties. We don't want to damage their careers, you know."From what I've seen, it looks as if the SEC might have sanctioned some level of case-related document destruction," Grassley said in a statement.
"It doesn't make sense that an agency responsible for investigations would want to get rid of potential evidence."
According to a letter from Grassley to SEC chairwoman Mary Schapiro, Flynn said some of the destroyed documents related to Goldman Sachs, Wells Fargo, Bank of America, Deutsche Bank, Lehman Brothers, and SAC Capital -- many of which played a major role in the 2008 crisis -- as well as Madoff, jailed for the biggest financial scam in US history.
The destruction of such documents "would appear to greatly handicap the SEC's ability to create patterns in complex cases and calls into question the SEC's ability to properly retain and catalog documents," Grassley said.
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