SEC accused of destroying documents of investigations. (companies, government, check)

[jimhcom]

Gee, a whistle blower is now accusing the SEC of destroying documents that could be a cover up of wrong doing by some of the countries largest banks.
Just another piece of evidence that when it comes to government and the wealthy.... the game is fixed.

[texdav]

It alos maybe to coverup the SEC incompetitence as seen i the Madoff case.the people who reported it bascially concluded that no one can rely of the SEC to portect them when it could have simply checked to see if Madoff was trading inthsoe years of warnings by outsiders.More a case of regualtors not being the smartest guys in the room by a large margin.

[Currency Pair Crocodile]

I'm actually amazed they even had documents in the first place. That's actually an encouraging sign

[bradykp]

Originally Posted by texdav

It alos maybe to coverup the SEC incompetitence as seen i the Madoff case.the people who reported it bascially concluded that no one can rely of the SEC to portect them when it could have simply checked to see if Madoff was trading inthsoe years of warnings by outsiders.More a case of regualtors not being the smartest guys in the room by a large margin.

it's not so much that the SEC doesn't have people intelligent enough to regulate, it's that they do not have enough people or enough funding to even take a small bite out of the companies they are supposed to regulate. honestly, they simply do not have the resources, and funding is always being cut.