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Alleged S E C Cover Ups....

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The Securities and Exchange Commission (SEC), the US financial regulator, has been accused of destroying thousands of data files on high profile inquiries including an early-stage investigation into convicted Ponzi scheme fraudster Bernard Madoff.

What's interesting is that the documents that have gone 'bye-bye' were early informal enquires... This makes me wonder if the information they contained suggested wider issues than those the SEC actually investigated.

I found the closing idea absolutely hilarious: claiming we can't possibly expect them to retain terabytes of data each month... I mean - at today's storage costs that could end up costing hundreds of dollars... Amazing.

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even terabytes of stored data can't get rid of the smell.

I was thinking rather, that - even if there were terabytes of data arriving per month, a terabyte of storage, these days, costs about £50 (and falling) which makes it difficult to justify destruction of data on the basis that it is too costly to keep.

Perhaps it's the technologist in me, but I find it doubly despicable when the excuses passed for inappropriate behaviour are founded on preposterous claims about technology.

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even terabytes of stored data can't get rid of the smell.

Havva larf at this propa-gander debunking Twin Towers WTC conspiracists

- the SEC were illegally wiping the offsite backup databases as company policy - until the Whistleblower let all the fraud out

The deliberate burning of SEC investigation paperwork and 7th hour blowing up of WTC7

(don't want any stray bits of SEC paper falling into the wrong hands after the explosions do they?)

This whole debunking waffle is blown away by the fact SEC also destroyed their backup databases


The truth is out there!

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