The Bureau Recommends an article in Rolling Stone magazine which questions whether deliberate policies in the US financial regulator the Securities and Exchange Commission (SEC) has effectively covered up decades of financial crimes.
Political reporter Matt Taibbi examines how the agency has been systematically destroying records of its preliminary investigations once they are closed.
Whistleblower Darcey Flynn estimates the policy has been in effect since as early as 1993, resulting in the loss of up to 9,000 case files. The SEC is supposed to maintain such files for at least 25 years.
According to the report the whitewashed files referred to many of the companies and individuals who would later play prominent roles in the economic meltdown of 2008, including some of the nation’s largest banks and hedge funds and top Wall Street broker Bernard Madoff.
To read the article in full click here.
