May 8, 2009

FLASH: And then one of the Goldman Sachs crooks who took over the US treasury got caught with his hand in the cookie jar - NY Fed Chairman Resigns


OBAMA - INDEPENDENT SPECIAL INVESTIGATOR NOW!!!!!!!!!!

FOR THE LOVE OF GOD, HOW MUCH WILL IT TAKE? OR HAVE THEY GOTTEN TO YOU TOO?


NY Fed chair resigns amid stock purchase questions


NEW YORK (Reuters) – Stephen Friedman, chairman of the New York Federal Reserve Bank's board of directors, resigned on Thursday amid questions about his purchases of stock in his former firm, Goldman Sachs.

Friedman, a retired chairman of Goldman Sachs who has led the New York Fed's board since January 2008, said he quit to prevent criticism about his stock buying from becoming a distraction as the Fed battles a severe U.S. recession.

"Although I have been in compliance with the rules, my public service motivated continuation on the Reserve Bank Board is being mischaracterized as improper," he said in a letter of resignation to New York Fed President William Dudley.

John Dunbar, a senior fellow at the Center for Public Integrity, a nonprofit watchdog group in Washington, said the stock purchases were a "complete conflict of interest."

"It is almost comical. If you tried to do that in a more traditional Washington bureaucracy, there is no way on earth you would get away with that," he said.

Fed insiders were also troubled over the situation, which they felt cast a question mark over ethical standards at the central bank.

21 comments:

Anonymous said...

You don't say !

How can it be ?

Such things do not happen here !

I am shocked !

Shocked, I tell ya !

LOL

edenz

Stuck in So Pa said...

Fed insiders were also troubled over the situation, which they felt cast a question mark over ethical standards at the central bank.
===========================

"Fed insiders" should avoid using the words ETHICAL and BANK in the same sentence, or paragraph, or memo, or even in the same room..... etc.

Dogcrap Green said...

OBAMA - INDEPENDENT SPECIAL INVESTIGATOR NOW!!!!!!!!!!

FOR THE LOVE OF GOD, HOW MUCH WILL IT TAKE? OR HAVE THEY GOTTEN TO YOU TOO?


bwahahhaahhaa LMAOF

Obama is the biggest flaming Democrat of all. It is HE getting to the people and rubbing off his self center corrupt ways.

les said...

The 9/11 investigation was a complete charade. Watch "loose change" on youtube.

I don't think the govt is capable of investigating itself anymore. They will pick investigators who have an interest in covering up all the scandals.

And that clip of the Inspector General Keith posted says it all. Gross incompetence.

Keith, make a sidebar of a list of people who should be investigated. I think we will be amazed how long it will get.

Bush
Cheney
Paulson
Bernanke
Greenspan
Dodd
Mozzilo
Dashcle
Barney Frank
Pelosi
Pandit
Lewis
Reid
Giuliani
Biden
Geitner
Summers
Freidman
Blankenfein
Raines
Rumsfeld
Wolfewitz
Rice
Pearl
Thain
Cayne
Schwartz
Dick Fuld
Prince
Michael Perry
Rangel
Chenault
Syron
Moffett
Chris Cox
McDaniel
Jim Cramer

There are hundreds more. . .
These are just the big names off the top of my head.


Then think about the mortgage brokers who didn't act in their customer's best interest.

Homeowners who intentionally lied on their mortgage app.



No one will be investigated.

vanilla ice said...

Didn't Paulson do the same?

Wind Farmer said...

That's one hell of a mea culpa.
"Although I have been in compliance with the rules, my public service motivated continuation on the Reserve Bank Board is being mischaracterized as improper."

There must be some secret Blagojevich School Offering a Public Service Code of Ethics (PSCOE). Of course you don't have to attend, take tests or pass anything. Just lie, cheat, steal and deny.

Anonymous said...

You think Uncle SAMBO is going to go after this guy?

BWA HAHA HAHA HAHA HAHA

Surely you jest.

This is so funny I won't even sign this post.

BWA HAA HAA

Bukko_in_Australia said...

He'll be back. Perhaps in the 2012 Petraeus/Palin administration. Getting caught with your hand in the cookie jar is nothing like getting caught with your man-finger in the honey-pot. Eh, Elliot? (And John Edwards too.)

In the world of power, Theft = Setback but Sex = Death.

Anonymous said...

"Or have they gotten to you as well." Keith are you a dope or what? Obama is like any other president since Kennedy....a schill for the international banksters....get real keith and open your eyes. Man for a smart person you are pretty dumb.

Anonymous said...

Chairman MaoObama in the running to beat out George W. Bushco for Worst, Most Destructive Shill of a President EVER.

Only proves you don't have to be stupid to be dangerous.

Obama Most Easily Fooled EVER.

IDIOT TOOL of WALL STREET

Supernintendo Chalmers said...

i would crush the Fed flat with my palm if i could.

borkafatty aka the pig said...

Put down the Kool-Aid and open your eyes. They got to him a long time ago. Like before the election long time ago. Follow the money.

RICO said...

It's obvious that GS and its 'alumni' don't view conflicts of interest as improper/illegal, but as exceptional opportunities to capitalize on their special influence.

An opportunity to exploit trust and extract windfall profits with impunity is what they've been conditioned to achieve.

They are 'shining' examples of a depraved business culture where compulsive greed and thievery are esteemed traits.

Evilness on parade.

Batman said...

Looks like the USD bull is breaking down. These guys are spinning as hard as they can to keep this huge lie floating with the stress tests being the latest crock of sh1t.

I keep waiting for the one year tbill to punch through the trendline at some failed auction but the hulking titanic seems to sink with torturous lethargy.

The public reflex to believe the bullsh1t is so strong that we need to discover the lies many times over before we actually question the liars.

Since the whole giant scam is a confidence game, it just goes on and on with amazing stamina in spite of its bankruptcy. I've given up predicting when the final shoe drops and people see the emperor has no clothes. It continues to defy logic continuously and repetitively.

Anonymous said...

Where are the f@cking Eurotards when the Pakistanis are murdering civilians by the hundreds?

Where is the f@cking despicable UN with their irrelevant ‘emergency security council meetings?’

say it ain't so, obama! said...

Obama's reliance on Goldman Sachs 'talent' will be the downfall of administration.

He needs to off-load these corrupted 'players' or he'll be implicated in their criminal activity.

Like the manager of this infamous Chicago team:

http://en.wikipedia.org/wiki/Black_Sox_Scandal

Anonymous said...

"The public reflex to believe the bullsh1t is so strong that we need to discover the lies many times over before we actually question the liars."

People know that it is bullshit, but "believe it" anyway because they want to.

Anonymous said...

"Evilness on parade"

Fascism on parade?

Lost Cause said...

DON'T read the news to get some understanding of what is going on. LOOK AT YOUR OWN LIFE! What do you spend money on? Rent or house payment -- car payment -- insurance -- credit cards. Then why is the government bailing out banks, insurance and car companies? These companies have more money than anyone -- just look at where your money goes, people! Something is very rotten.

Jason said...

To get to him would imply that they weren't up his ass in the first place.

Brian Miller said...

This entire discussion is soooo academic. The banks won, the Fed is "pretending" it lost while propping up the banks. Meanwhile, the losses are socialized while the profits are privatized.

http://tinyurl.com/qufg8y