Friday, September 2, 2011

SEC Destroys Records of Wall St. Investigations

From Glenn Beck...Maxine Waters wants an Obama dictatorship. She says of the "Gansta bankers'---“bring the gangsters in, put them around the table, and let them know that if they don’t come up with loan modifications and keep people in their homes, that they’ve worked so hard for, we’re gonna tax them out of business.”

Glenn Beck and his friend Stu had a discussion on this allegation by Ms. Waters. They partially disagreed on whether the "Federal Family" (as they are being called now) are the real gangsters or if the banks are at fault for so much of the corruption we see in Wall St. dealings.

Well, consider the news that came out on 8/18/11.

SEC Destroyed Records of Wall St. Investigations
  A report by Rolling Stone and Matt Taibbi tells the story of a whistleblowers account of an ongoing policy at the SEC of covering up for Wall St. firms. These shady practices go back into the Bush administration and continue under the eyes of Obama's appointees such as multi-millionaire Director Mary Shapiro (previously head of FINRA) and Mr. Kusami (tied to Deutsche Bank). Over 9000 documents on individual investigations were involved. The firms are listed in the story linked above but range from Lehman to Deutsche Bank. These are but a few of the "closed" cases...

Goldman Sachs MLA-01909 6/99 - 4/00 Market Manipulation
Deutsche Bank MHO-09356 11/01 - 7/02 Insider Trading
Deutsche Bank MHO-09432 2/02 - 8/02 Market Manipulation
Lehman Brothers MNY-07013 3/02 - 7/02 Financial Fraud
Goldman Sachs MNY-08198 11/09 - 12/09 Insider Trading

Sen. Chuck Grassley of Iowa asked the SEC to account for the allegations. “From what I’ve seen, it looks as if the SEC might have sanctioned some level of case-related document destruction,” Grassley said.  “It doesn’t make sense that an agency responsible for investigations would want to get rid of potential evidence.  If these charges are true, the agency needs to explain why it destroyed documents, how many documents it destroyed over what timeframe, and to what extent its actions were consistent with the law.”

The fact is that the ongoing "REVOLVING DOOR" policy of bringing in Wall St. musclemen to head government regulatory agencies is as old as the hills. To quote one author who I will refer back to later---"The SEC is dead. It must be replaced by a truly transparent entity which will actually conduct the much needed oversight of Wall St. and eliminate it's incestuous insider relationship with government."

When you lie down with dogs you get fleas. The Big Government Mob Fam' and the Wall St. "Ganstas" are one in the same. This is about as disfunctional as it can get. These "family ties" need to be severed!

On a Higher Plane...Please read the following post...below...on the political spin of 9-11.

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