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: DSWright Tuesday October 21, 2014 11:20 am|
|By: DSWright 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.”
|By: DSWright 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.
|By: DSWright 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.