Matt Taibbi: Is the SEC Covering up Wall Street Crimes?

Aug 23, 2011
J. Webster
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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. Democracy Now! speaks with Matt Taibbi, the political reporter for Rolling Stone magazine who broke this story in his latest article, “Is the SEC Covering Up Wall Street Crimes?”

Taibbi is of course most famous for calling Goldman Sachs a great vampire squid. Could there be any worse timing than this? What with the market and the financial institutions already on the most hated list – their stocks getting chopped down nearly every day.

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