Sen. Grassley: SEC may have covered up bank wrongdoings

WASHINGTON — A US senator said Wednesday that the Securities and Exchange Commission may have destroyed thousands of documents related to probes into possible violations by major banks and hedge funds.

Senior Republican Senator Chuck Grassley said that “an agency whistle-blower” sent him a letter that described the SEC’s allegedly unlawful destruction of records related to more than 9,000 informal investigations.

The documents included cases arising from the 2008-2009 financial crisis, including Goldman Sachs, AIG, and the Bernard Madoff pyramid fund, according to the whistle-blower, Grassley said.

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1 Comment

  1. Bob Marshall

    August 19, 2011 at 10:53 am

    Amazing. Our prisons are full of young men who committed minor offenses while the real crooks walk around free. These people know they will never be held accountable. This is only the tip of the iceberg. We are smart enough this is not uncommon in our government.

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