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 Post subject: Report: SEC routinely destroyed records of investigations
PostPosted: Thu Aug 18, 2011 5:24 pm 
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According to a report in Rolling Stone, the Securities and Exchange Commission, since 1993, had a policy of destroying records of its investigations that did not immediately result in enforcement action.

Therefore, if there were claims of wrongdoing against the likes of Bernard Madoff, or Lehman Brothers in say, 2000, but the investigation didn't lead to any official charges, the file would be destroyed.

Later, if the same person or entity was accused of wrongdoing, the investigators would have to start anew and would have no records to compare in order to see if there were any similarities or patterns.

http://content.usatoday.com/communities ... 20-years/1

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 Post subject: Re: Report: SEC routinely destroyed records of investigation
PostPosted: Fri Aug 19, 2011 2:08 pm 
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The entire system is a smoke 'n mirrors game being played inside a house of cards. It's the last thing leading lights like Jefferson wanted, and I find it endlessly discouraging.

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 Post subject: Re: Report: SEC routinely destroyed records of investigation
PostPosted: Fri Aug 19, 2011 2:47 pm 
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That probably wasn't a good idea to do that.

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 Post subject: Re: Report: SEC routinely destroyed records of investigation
PostPosted: Sat Aug 27, 2011 10:53 am 
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When those who own the most wealth in stock are making the laws regarding stock market oversight you will never have anything but corruption.

I'd imagine that what journalists dig up regarding government and the market is less than 2% of the real dirt behind it.

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 Post subject: Re: Report: SEC routinely destroyed records of investigation
PostPosted: Sun Aug 28, 2011 10:29 am 
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Eat the rich.

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 Post subject: Re: Report: SEC routinely destroyed records of investigation
PostPosted: Sat Sep 10, 2011 8:42 pm 
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I would not like the after-taste.

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 Post subject: Re: Report: SEC routinely destroyed records of investigation
PostPosted: Thu Sep 15, 2011 1:16 pm 
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This enhances my feeling of "should I just stay here?"

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 Post subject: Re: Report: SEC routinely destroyed records of investigation
PostPosted: Tue Sep 20, 2011 9:27 pm 
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Imagine you are investigated. Think of the extent of the information you have to provide. Now imagine that they don't find any wrongdoing. No charges are filed. You're telling me you wouldn't want that information destroyed?

I see no problems here.

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 Post subject: Re: Report: SEC routinely destroyed records of investigation
PostPosted: Mon Oct 03, 2011 6:33 am 
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Legend of NYFS

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Monsoon wrote:
Imagine you are investigated. Think of the extent of the information you have to provide. Now imagine that they don't find any wrongdoing. No charges are filed. You're telling me you wouldn't want that information destroyed?

I see no problems here.


Especially if you did the crime!

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 Post subject: Re: Report: SEC routinely destroyed records of investigation
PostPosted: Sat Oct 08, 2011 1:12 pm 
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Guilty until proven innocent is the new rule. And even when you're proven innocent, you're still guilty. :)

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If Wiley E. Coyote had enough money to buy all that ACME crap, why didn't he just buy dinner?


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 Post subject: Re: Report: SEC routinely destroyed records of investigation
PostPosted: Sun Oct 09, 2011 8:02 am 
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Monsoon wrote:
Guilty until proven innocent is the new rule. And even when you're proven innocent, you're still guilty. :)

Proven innocent and insufficient evidence are two different things. And if you were proven innocent why wouldn't you want the file to stand? Got something to hide?

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 Post subject: Re: Report: SEC routinely destroyed records of investigation
PostPosted: Sun Oct 09, 2011 11:45 am 
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Azmetaholic wrote:
Monsoon wrote:
Guilty until proven innocent is the new rule. And even when you're proven innocent, you're still guilty. :)

Proven innocent and insufficient evidence are two different things. And if you were proven innocent why wouldn't you want the file to stand? Got something to hide?


If you are a business, absolutely. There's all kinds of confidential information that gets accumulated in a file like that.

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If Wiley E. Coyote had enough money to buy all that ACME crap, why didn't he just buy dinner?


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