From Washington's Blog
Specifically, David Callahan - executive editor of SmartCEO - submitted a Freedom of Information Act request to the SEC regarding the pre-9/11 put options.
The SEC responded:
"This letter is in response to your request seeking access to and copies of the documentary evidence referred to in footnote 130 of Chapter 5 of the September 11 (9/11) Commission Report.
We have been advised that the potentially responsive records have been destroyed."
If the SEC had responded by producing documents showing that the pre-9/11 put options had an innocent explanation (such as a hedge made by a smaller airline), that would be understandable.
If the SEC had responded by saying that the documents were classified as somehow protecting proprietary financial information, I wouldn't like it, but I would at least understand the argument.
But destroyed? Why?