Despite Warnings From Congress, SEC Still DESTROYING Records Illegally, Lawyer Says
The image above is not related to this story specifically, though it was sent to the SEC by a fund manager back in 2009.
A year after it was warned that it might be violating federal law, the Securities and Exchange Commission is still breaking the law by destroying records of closed enforcement cases, a lawyer in the agency’s enforcement division has alleged.
In addition, the purging of files has involved a wider range of investigative documents than previously reported, according to a signed statement by the enforcement lawyer.
The new allegations are contained in a statement dated Tuesday by Darcy Flynn, a longtime SEC employee involved in managing records for the enforcement division.
Flynn’s lawyer, Gary Aguirre, sent the statement and an accompanying narrative to SEC Chairman Mary L. Schapiro and SEC Inspector General H. David Kotz. Aguirre also addressed copies to several lawmakers, calling on Congress to step in.
Flynn is under “standing orders to direct the destruction of records” that the SEC is legally required to preserve, Aguirre wrote.
A year ago, after Flynn first alerted it to a potential problem, the National Archives, overseer of federal record-keeping, asked the SEC to explain the apparently unauthorized destruction of government records. The SEC told the National Archives that it was preserving the records then in question while it worked to sort out the issue.
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Matt Taibbi first broke this story a few weeks ago:
Matt Taibbi: SEC Is Covering Up Wall Street Crimes
Sep 7, 2011 at 11:29 AM
Reader Comments (11)
The American Voters need to prescribe a large scale (Vote Them all out Anti Corrupt Politician Medication) for November 2012. Along with a ( Get the Money out of our Electoral Process enema for 2014 and 2016) as the whole electoral system is in need of a serious flushing. Then keep prescribing both every election till a true Democratic Republic emerges from decadent mess we are in today.
"Then keep prescribing both every election till a true Democratic Republic emerges from decadent mess we are in today"
We might be expecting too much. LOL
Wall Street, Banks, Corporations,etc.etc. etc.
Could these be enemies of the U.S.
How is TREASON spelled?
The people I speak with on Main Street seem to be INTENTIONALLY IGNORANT. They are not smart enough to be called STOOPID.
Could these be enemies of the U.S.")
Yo TR,
Not to one tenth of one percent of the U.S. known as the ultra rich, and probably not to the next four and nine tenths to six percent of the U.S. who are simply the rich. But for ninety four to ninety five percent of the U.S. you bet your ass. They could be and they are our enemies.
Big Business, Federal Government, and the elite are Divine Entities, and as such are above the Laws of the Have Not Multitude.
Almost everybody in Washington D.C. knows that.
Is it right? Of course not. But it is what the masses wanted, watch as they clamor for the great distractions of our day instead of caring about what is right, just, and ethical.
So will there be more calls for justice, or more calls for pizza delivery, that is the true question of our time.
You know, kind of like a play action pass to hand all the wealth to the elite.
Things just have a "funny" way of working out this way.