Government by Goldman Sachs

[Octafish]

43. Primer for the Goldman Sachs secret tapes

Sounds like Sen. Warren plans a lot of investigating:

Primer for the Goldman Sachs secret tapes

by Elizabeth Warren
Boston Globe, Sept. 26, 2014

THE FEDERAL Reserve Bank of New York is responsible for regulating the nation’s biggest banks. But new secret audio tapes indicate the banks — not the Fed — are in charge. Congress can keep making the rules tougher and tougher, but it won’t make an ounce of difference if the regulators won’t enforce those rules. Below is a primer to explain what’s going on.

Wall Street Journal, ‘N.Y. Fed Staff Afraid to Speak Up, Secret Review Found’ by Pedro Nicolaci Da Costa

“The Federal Reserve Bank of New York commissioned a secret internal investigation of itself in 2009, uncovering a culture of suppression that discouraged regulatory staffers from voicing worries about the banks they supervised.

“The review found a highly bureaucratic structure that discouraged staffers from offering their honest opinions. The report called for “a sustained effort to overcome excessive risk-aversion and get people to speak up when they have concerns, disagreements or useful ideas.”

CONTINUED...

http://blogs.wsj.com/economics/2014/09/26/n-y-fed-staff-afraid-to-speak-up-secret-review-found/

I wonder if her distinguished colleagues would also be interested in investigating corruption in The Fed, Goldman Sachs and the SEC should the Democrats lose control of the Senate?