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Friday, October 11, 2013

Lawsuit Claims NY Fed Fired Regulator Who Raised Questions About Goldman Sachs

"This Is Why They Hate You And Want You To Die"

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The above photo is from Vanity Fair's article, "The Bank Job." Excerpt: "One of the biggest disconnects on Wall Street today is between the way Goldman Sachs sees itself (they’re the smartest) and the way everyone else sees Goldman (they’re the smartest, greediest, and most dangerous)."

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"In the spring of 2012, a senior examiner with the Federal Reserve Bank of New York [Carmen Segarra] determined that Goldman Sachs had a problem. Under a Fed mandate, the investment banking behemoth was expected to have a company-wide policy to address conflicts of interest in how its phalanxes of dealmakers handled clients. Although Goldman had a patchwork of policies, the examiner concluded that they fell short of the Fed's requirements...Before she could formalize her findings, Segarra said, the senior New York Fed official who oversees Goldman pressured her to change her view." Jake Bernstein in The Washington Post




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