Last Friday New York Federal Reserve Chairman and former Goldman Sachs Chief Economist William Dudley went before the Senate Banking Subcommittee on Financial Institutions and Consumer Protection. Dudley testified in the wake of a slew of scandals the New York Fed was caught up in including a secret recording that revealed the Fed looked on the other way on a “shady” deal by Goldman Sachs, allowing Wall Street banks to manipulate commodity markets, and providing inside information to Goldman Sachs about how the NY Fed viewed certain Goldman clients.
|By: DSWright Monday November 24, 2014 12:24 pm|
|By: DSWright Friday November 21, 2014 10:30 am|
Former Goldman Sachs Chief Economist and current President of the New York Federal Reserve, William Dudley, is preparing to once again speak on Wall Street’s corrupt culture. He’s not going to do anything about it, but he does love to talk (and talk and talk) about how Wall Street’s culture of corruption is creating instability and distrust in the financial markets.
Dudley’s latest critique of Wall Street’s culture will come today before a Senate Banking subcommittee, right on the heels of revelations that a former New York Fed official who went to work for Goldman Sachs gained access to confidential information with help from someone at the New York Fed.
|By: DSWright Thursday November 20, 2014 8:56 am|
Apparently that recent study showing banking culture is corrupt in essence is not so far off the mark as it has now been revealed that Goldman Sachs received inside information from the New York Federal Reserve. It is not just the banksters or the regulators but a culture of corruption which has led to a seemingly endless series of corruption stories coming out of Wall Street and Washington.
In what is being called a “leak,” a former regulator with the New York Fed joined Goldman Sachs and used his contacts at the Fed to gain access to inside information for his new employer.
|By: DSWright Tuesday October 21, 2014 11:20 am|
In the aftermath of the exposure of the Federal Reserve collaborating with Goldman Sachs to prevent the bank from being accountable for breaking the law, Fed officials warned Wall Street that if banks did not cut back on reckless and criminal behavior they might finally face penalties including being broken up. The warnings were issued by Federal Reserve Governor Daniel Tarullo and Federal Reserve Bank of New York President William Dudley in speeches behind closed doors. The prepared remarks were published and appear to indicate an attempt to change the corrupt culture at the Federal Reserve.
|By: CTuttle Friday October 17, 2014 6:40 pm|
Putin, Erdogan, Saudi Arabia: The Balance Of Power Is Shifting
|By: DSWright Friday October 17, 2014 1:31 pm|
At the very least it is time for Americans to stop idealizing Silicon Valley as made up of dreamers and rebels and understand that the technology sector is pursuing its economic interests – which are considerable – in much the same way other major industries are. Given that reality, the same kind of skepticism should be applied to their motives and regulations applied to their activities as other parts of the corporate sector.
|By: DSWright Tuesday October 7, 2014 11:30 am|
Though Goldman Sachs has already admitted in court documents that it bribed officials working for Libya’s sovereign wealth fund, the claim brought by Libya concerning fraud remains contested. Libya’s sovereign wealth fund known as the Libyan Investment Authority (LIA) has accused Goldman Sachs of putting the fund in over $1 billion worth of high risk losing trades so Goldman could pocket $350 million in fees.
|By: DSWright Monday September 22, 2014 7:10 am|
In court documents Too Big To Fail bank Goldman Sachs has admitted to paying bribes to the government of Muammar Gaddafi in order to gain access to Libya’s sovereign wealth fund. The information came to light from a lawsuit filed in London against Goldman Sachs by the Libyan Investment Authority (LIA).
|By: DSWright Tuesday April 29, 2014 2:57 pm|
For those unaware of the new US “grand strategy” it involves not just overthrowing governments in Ukraine to expand power into Eurasia but also trying to encircle East Asia’s newest power, China. Called throughout Washington policy circles as the “Pivot to Asia” the plan to encircle China involves both moving greater military forces into the region as well as an anti-democratic “trade deal” known as the Trans-Pacific Partnership Agreement (TPP).
|By: DSWright Wednesday April 9, 2014 6:52 am|
A longtime trial attorney for the SEC had some brutal parting shots for the agency. Given as remarks at a goodbye party the attorney, James Kidney, condemned the SEC for letting the larger Wall Street firms get away with crimes. Essentially claiming that the SEC never went after the powerful.