Regardless of how many prominent individuals and organizations speak-out about this U.S. Government malady, the terrible trend toward war and the worse kind of governance continues unabated in America.
Regardless of how many prominent individuals and organizations speak-out about this U.S. Government malady, the terrible trend toward war and the worse kind of governance continues unabated in America.
The most shocking, if already completely buried, news of the day was that – in yet another confirmation that Goldman Sachs is in charge of the New York Fed – a NY Fed staffer was colluding and leaking confidential, material information to a 29-year-old Goldman vice president, himself a former Federal Reserve employee.
Well, one issue I had is that although I warned not to securitize the loans, there was no way—I was blocked off, especially after I had raised complaints, from being able to see any of the data or the diligence process, which right there shows that something was wrong. So, after I left JPMorgan, I actually had no idea, for a full four years, that the loans had been securitized.
The largest U.S. bank by assets said the investigations focus on its spot foreign-exchange trading activities and controls related to those activities.
What we know about the New York Federal Reserve Bank:
The President of the New York Federal Reserve Bank uniquely sits permanently on the Federal Open Market Committee (FOMC).
It is the only regional Federal Reserve Bank to have its own trading floor and speed dials to the largest firms on Wall Street
It is the only regional Fed Bank to be allowed to intervene in foreign exchange markets (a market where cartel activity is currently under criminal investigation)
it uniquely among the regional Fed Banks, stores gold for foreign central banks, governments and international agencies
The New York Fed uniquely managed relationships with Wall Street banks during the financial crisis from 2007 to 2010 by making secret, below-market rate loans to the tune of trillions of dollars to the banks that were collapsing as a result of its unwatchful regulatory eye
AND there is more suspicious international activities…
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