Federal Reserve Facing Scrutiny After Corruption Scandals

By: Monday November 24, 2014 12:24 pm

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.

 

No Bribery Equals No Corruption

By: Sunday November 23, 2014 11:30 am

William Dudley, former Chief Economist at Goldman Sachs, is going to keep Goldman Sachs from setting the financial world on fire, with lots of input from his friends at Goldman Sachs, Morgan Stanley, JPMorgan Chase….

New York Fed Head William Dudley to Give Yet Another Speech on Wall Street’s Corrupt Culture

By: 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.

Goldman Sachs Gained Inside Information From New York Fed

By: 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.

After Corruption Scandal Federal Reserve Says It May Start Enforcing Law

By: 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.

NY Fed President Says Wall Street ‘Lacks Respect for the Law’

By: Friday November 8, 2013 9:30 am

Is there anyone left who doesn’t think Wall Street has a culture of corruption? Even the President of the New York Federal Reserve William Dudley, a former Chief Economist at Goldman Sachs, has now critiqued Wall Street’s open contempt for the rule of law. Dudley claimed the banksters have displayed “deep-seated cultural and ethical failures.”

New York Federal Reserve Fired Examiner Who Took on Goldman Sachs

By: Friday October 11, 2013 8:40 am

Former New York Federal Reserve Bank Examiner Carmen Segarra has a filed a wrongful termination lawsuit against the New York Federal Reserve. In the suit Segarra claims that while acting as a bank examiner for the NY Fed she was told to falsify findings on Goldman Sachs, when she refused was fired.

Banks Siphon Bernanke’s Stimulus While Tightening Credit On Middle Class

By: Monday December 24, 2012 10:25 am

While many former homeowners will be spending the holidays in the streets, it is good to know the bailed out banks are making some nice profits… off the American taxpayer. Fed Chairman Bernanke’s continual leveraging of the national credit card via buying mortgage-backed securities to stimulate the mortgage market has done little for the mortgage market and a lot for Wall Street’s bottom line.

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