According to the lastest issue of Rolling Stone, an ex-SEC attorney, Darcy Flynn has come forward in a bid to shed light on what really went on in that inept entity as it was tasked with keeping an eye on shady bank activity.
Hilarious how these organizations are supposed to be looking out for the OMOTS, who has retirement funds invested in the stock market and hopes after a few years of hard work to live off those proceeds.
According to RS (see link below) evidence on 18,000 investigations of potential fraud were SHREDDED.
Yes that's right fed to the shredder!
http://www.rollingstone.com/politics/news/is-the-sec-covering-up-wall-street-crimes-20110817
The most scandalous aspect of this story is how a revolving-door culture of SEC/ex-Wall Street General Counsels has existed and will well into the future, ensuring that any fraud, corruption and downright highway robbery has not been investigated and probably never will be in the future.
Hope and change we can believe in, RIGHT?
Bail outs will continue and scandals will multiply because the foxes are guarding the hen houses and will continue to do so.
The OMOTS will continue to put his retirement savings into various stocks and the SEC will shred any evidence that smells like a Ponzi scheme, fraud and facilitate the systematic destruction of wealth through shredding!
Matters Under Investigation (MUIs) will find themselves under a pile of shredded paper and dumped into a Waste Management sanitation truck.
Next time you walk by an office block in mid-town Manhattan notice how many mobile shredding trucks idling by the kerb!
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