Wall Street Crimes Covered up by Sec?

family trust any of our government agents okay that is what we're gonna be uh... discussing and uh... this is because of a great story tonight a beaded in rolling stone it's about the f_c_c_ and how the regulators their work first of all those surprise in the czech restaurant public in said over my wife has been uh... asking the s_e_c_ about some investigations and now he found out through apart we at the whistleblower that matt also writes about that turns out they basically destroyed records of their investigations aunty if that i love the first quarter grassley says quote it doesn't make sense that an agency responsible for investigations would want to get rid of potential evidence which makes a lot of sense strategy if you can let you know this is you probably wouldn't want to get rid of evidence but what they're doing is is there a called matters under investigation is annualized and uh... low-level analysts who actually care about their jobs actually looking to others insider trading fraud and settlers are guests big banks then it goes up to the higher levels in the higher levels go yeah i don't think so we're not doing any of those investigations and for the records they don't actually brenda but they do shred them they literally destroy all the records now why would they do this well let's give you one example this guy by the name of *** walker who's in charge of uh... revealed one of these investigations against torture bank and there was some fairly considerable evidence of that again we find this out through uh... whistleblowers like a good guy by the name of darcy flynn who worked there for over a decade bank and so they bring us up to his attention is on the recuse myself in the case and we're not going to tell you why we stop the case but i don't think that all the sudden the case is gone it is not pursued and all the evidence is destroyed you i guess or *** walker went to right afterwards a couple months later shockingly enough he became a general counsel weirdo which are back and that's generally how it works and that's got a lot more details and the rolling stone piece which will talk about the second year but let me open it up to you guys so isn't any hope here at least is is you regal rolling so sorry is that constantly revolving door the heads of the organizations the top guys are constantly go to work for goldman sachs torture bank uh... this but while most swindler a texas billionaire uh... let me give you his name uh... or elese stanford who finally got interested seven billion dollar ponzi scheme here in new york overnight is so great the guy who was was investigating those arrested him for the record stats was so crazy right and then says quote every lawyer and after you enter your firms as every lawyer in texas and beyond is gonna get rich on this case okay i hated being on the sidelines of eight years ago video is that the system is insanely crap i mean people talk about are the people corrupt the system is designed to be corrupt maps story is the sisters' story to another uh... thing that doesn't get enough evidence which is under bush and now accelerated under all bomber the justice department policy for investigating banks in this country is not to investigate what to say chase chase bank investigate yourself and let me know if you do anything illegal literally and if by some embarrassing chain of events i'd find out is the government that you chase bank in something we'll assign case look into investigators from the back and india so what we have here is a system and this revolving door that you talk about that walker not only do they destroyed the records in these cases but if they could that have the men in black come in and do the flash in the eye so the individuals of our forget everything they weren't since they can't do that they hire them for big money well there's a minute is is it actually cases exactly what you're talking about again in the release on peace as a woman by the name of jacqueline milan who worked at a rate sheet and around september fifteen two thousand eight now remember that's mid meltdown she says oh my god this is serious insider trading going on at our office today i g she wore strategy edging is all things so much for letting us know you're fired okay obviously immediately right so then they go to that cc they like insider trading at the company that we are getting any enormously a lot of the largest of the all the bills over a hundred eighty billion dollars hey they might be following the money to themselves you might wanna look into that and a good here that's a great point don't worry we're going to appointed a commission led by a chief of police everybody hired by a single outside where people edgy will tell us that they were corrupt so that cc sabathia cc sent you have a prominent are non whatsoever i think all these institutions are best left alone to investigate themselves effect uh... now i think that uh... you know what as i got you know we all remember like the savings and loan the bottle uh... if we go into the way back issue not too far back and then we remember the iran scandal with i don't know who the poster will demand are of bringing the entire financial world to its knees in this this collapse we just had where are those boots william edward lee prosecutions of those guys allow me to tell a story for me yap bob macey katarina the research titled frankie for many years as you know you probably propaganda not in the great money-making scandal-ridden areas uh... fortunately for myself unfortunate for my bank account there is a guy named joe concern joe cassano ram the financial products unit avenging two hundred people of the company of a hundred and twenty thousand responsible for the whole collapse of everything basically his and that's what it is like patient x he liked the idea like exactly his patient he is the caring and he's the background and so he does makes these multibillion dollar totally leverage deals bringing they can eventually bring the economy dot nutty idea what people don't know this didn't one of these deals with the s_e_c_ early two thousand i forget i think was two thousand three with the f_c_c_'s that ok we'll let you off the hook blatant fraud but you have to pay pay a fine you have to be keeping independent auditor in joke aside i was unit and of chorus is illegal to lie to investors about what you're doing because that's not brought you can go to jail for that what happens during levin's investigation in some of the other senate investigation no i can't call joe costano guilty of a crime because that would be slander but you remember this union the producers where they'd reform committee says we find the defendant incredibly guilty you'll remember that the defendant bear in mind i thought you know i don't have time to time and i agree i cannot profit to the crime because he was never prosecute so what happened was that you go through the records joe cassano says the independent or auditor that was part of a legal settlement i'm not letting you look at the box independent auditor quit in frustration joe cassano goes on a car investor call with people putting all their money in their i_d_ answers the books are great nobody has a problem with the book he says are arm deals armani good meaning as good as cashier ordeals of money good he's already been tall there are serious problems senior executives of or even told her fingerprints there on the call they all say nothing joe costano brings down the world economy after a year's worth or waiting for the justice department to act somebody up finally the story weeks out like a little over a year later the oklahoma justice department told joca samples were there will be no trial now let me finish that story so he gets no prosecution what did he get he got between three hundred to six hundred million dollars in composition for managing now we put in a hunt over a hundred eighty billion dollars of taxpayer money to rescue a richie did we get the money back from cassano cause a hundred an eighty billion dollar lost no we didn't ok he gets to keep any those hundreds of millions of dollars as an extra kicker the government said that they needed his expertise in the beginning and they were paying and million dollars a month to him for is expertise before that story broke and everybody was ares and fire they like ok if they get enough money will let him retire so where are the investigators and the justice department were taken into these guys where are they failed but that's a great question and i constantly keep asking wes holder you know our attorney general well i mean he he was supposed to be a lie in four other people write any uh... he was supposed to be progressive any was going to get in there is a roll up his sleeves in what happened nothing nothing the one guy prosecutor from goldman sachs what was the way he did that actions and that was that his twenty eight years old they found a guy that is an incredibly ahluwalia and frankly i know it's a factory sealed guys already an abraham and a twenty eight-year-old missing we got up i've given the frogs