Covering Up Wall Street Crimes: SEC Shredded Thousands of Investigations

Editor’s Note: In this interview yesterday with Matt Taibbi of Rolling Stone, notice the passing mention of New York Attorney General Eric Schneiderman, who — according to news breaking even as I write this — was “kicked off the committee leading the 50-state task force charged with probing foreclosure abuses,” apparently because he was uniquely determined to press for prosecutions of financial wrongdoers. He may have been incorruptible, but at least he was removable. The corruption continues. You can probably thank the Obama administration for his removal from the committee.

From Democracy Now:

An explosive new report in Rolling Stone magazine exposes how the U.S. Securities and Exchange Commission destroyed records of thousands of investigations, whitewashing the files of some of the nation’s largest banks and hedge funds, including AIG, Wells Fargo, Lehman Brothers, Goldman Sachs, Bank of America and top Wall Street broker Bernard Madoff. Last week, Republican Sen. Chuck Grassley of Iowa said an agency whistleblower had sent him a letter detailing the unlawful destruction of records detailing more than 9,000 information investigations. We speak with Matt Taibbi, the political reporter for Rolling Stone magazine who broke this story in his latest article.”

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