NY Fed chair quits over Goldman role

[ricket]

http://money.cnn.com/2009/05/07/news...ion=2009050719

NEW YORK (CNNMoney.com) -- The chairman of the Federal Reserve Bank of New York resigned Thursday, days after coming under attack for his continuing involvement in a company regulated by the institution.

Stephen Friedman received a waiver to remain on the board of Goldman Sachs (GS, Fortune 500), the Wall Street firm that became a bank holding company amid September's financial frenzy, according to a report in the Wall Street Journal on Monday. He also holds a substantial amount of shares in the company and continued to buy more even after Goldman came under the Fed's supervision.

i.e. "The public is starting to eyeball where their money is going and it may look like I'm stealing it, so at my ripe age of 71, I figured I'd give it up, take my millions now while my neck is still attached to my shoulders..."

[cjppjc]

Re: NY Fed chair quits over Goldman role

http://money.cnn.com/2009/05/07/news...ion=2009050719

i.e. "The public is starting to eyeball where their money is going and it may look like I'm stealing it, so at my ripe age of 71, I figured I'd give it up, take my millions now while my neck is still attached to my shoulders..."

You got that right. How he was allowed to stay in this conflict of interest for any amount of time is mind boggling.

[aaron]

Re: NY Fed chair quits over Goldman role

When I read stuff like this I get very angry. It is infuriating what these banksters have done. Then, I just get sad that our country has come to this. Finally, I just feel hopeless.

[cjppjc]

Re: NY Fed chair quits over Goldman role

When I read stuff like this I get very angry. It is infuriating what these banksters have done. Then, I just get sad that our country has come to this. Finally, I just feel hopeless.

Who could blame you. Hopeless is about right. Maybe Jon Stewart will ...... Oh never mind, if it's come to that.

[Sapiens]

Re: NY Fed chair quits over Goldman role

Finally, I just feel hopeless.

Stick around iTulip so you can find a plan of action that benefits you.