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Originally posted by Doctor G
From my reading I assumed the "thing" that hit the Pentagon in the "last to be reinforced section" was the accounting section that could have figured out where the 2.3 trillion went.
Just like when WTC7 went down, and all the papers for the biggest insider dealing case to date were burnt along with the case files of every other case under investigation at that time.
The SEC has not quantified the number of active cases in which substantial files were destroyed. Reuters news service and the Los Angeles Times published reports estimating them at 3,000 to 4,000. They include the agency's major inquiry into the manner in which investment banks divvied up hot shares of initial public offerings during the high-tech boom.
The EEOC said documents from about 45 active cases were missing and could not be easily retrieved from any backup system.
One of these cases was a sexual harassment charge filed on Sept. 10 against Morgan Stanley, one of the prime corporate victims of the World Trade Center disaster.
A statement from the commission said that "we are confident that we will not lose any significant investigation or case as a result of the loss of our building in New York. No one whom we have sued or whose conduct we have been investigating should doubt our resolve to continue our pursuit of justice in every such matters."
.............
"Court papers can largely be reconstituted, but work product has to be reconstructed," he said. "This will cause delays in court and will require significant reduplication of effort." Some data, he added, "won't be recreatable."
"Ongoing investigations at the New York SEC will be dramatically affected because so much of their work is paper-intensive," said Max Berger of New York's Bernstein Litowitz Berger & Grossmann. "This is a disaster for these cases."
"The SEC will have some difficulty, but the bounce-back will come relatively easily," predicts Harvey Goldschmid, Dwight professor of law at Columbia University and former general counsel of the SEC. "It will throw things off for a period of time, but most of what's important can be regained. They will have to reconstruct these documents. But most of this was backed up or in Washington. They've lost some transcripts but even they're available."