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New York Federal Reserve posts

Is the New York Fed a Black Ops Outfit for the Nation's Central Bank?

Posted Feb 2nd 2010 11:20AM by Connie Madon (RSS feed)
Filed under: Scandals, Politics, Federal Reserve, Financial Crisis

The current investigation of the American International Group (AIG) bailout by Congress has brought to light the inner workings and secret deals that were made.

Center stage in the investigation is the New York Federal Reserve. There are 12 Federal Reserve Banks that operate under the supervision of Federal Reserve's Board of Governors, chaired by Ben Bernanke. Member bank presidents are appointed by the nine member board, who themselves are appointed by other bankers.

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Did the New York Fed Chairman engage in inappropriate behavior with Goldman Sachs?

Posted May 4th 2009 7:00AM by Mark Fightmaster (RSS feed)
Filed under: Goldman Sachs Group (GS)

Reports have surfaced from Wall Street about the relationship between the Federal Reserve Bank of New York and Goldman Sachs (NYSE: GS). Before we go into the relationship, let's take a look at what has taken place at GS thus far.

Late last year, GS received rather quick approval to become a bank holding company and received an injection of $10 billion in capital soon after the approval. There is nothing suspicious about this relationship, until you learn that the New York Fed's chair Stephen Friedman was on GS's board at the time -- and held a large amount of GS stock. Flat out, this is a violation of the Fed's policy.

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