By Pam Martens and Russ Martens: September 26, 2014
The Trading Desk at the New York Fed Has Speed Dials to Wall Street Firms (Photo from Educational Video Released by the Federal Reserve)
Jake Bernstein has a financial blockbuster up today at ProPublica on the secret tape recordings made inside the New York Fed and Goldman Sachs by bank examiner turned whistleblower, Carmen Segarra, who was fired by the New York Fed after she refused to change her examination findings on Goldman Sachs.
Segarra is one gutsy bank examiner and lawyer: according to the article, she went to the Spy Store, bought a tiny microphone, and proceeded to tape record two of the most powerful financial institutions in the world — 46 hours worth of tapes.
Read our past coverage of the Carmen Segarra story and the deeply conflicted New York Fed at these links:
Blowing the Whistle on the New York Fed and Goldman Sachs
The Carmen Segarra Case: Welcome to New York, Wall Street and McJustice
A Mangled Case of Justice on Wall Street
Is the New York Fed Too Deeply Conflicted to Regulate Wall Street?
New Documents Show How Power Moved to Wall Street, Via the New York Fed
Intelligence Gathering Plays Key Role at New York Fed’s Trading Desk
Relationship Managers at the New York Fed and Citibank: The Job Function Ripe for Corruption
As Citigroup Spun Toward Insolvency in ’07- ’08, Its Regulator Was Dining and Schmoozing With Citi Execs
At Last We Know the Real Purpose of the Federal Reserve Bank of New York: It’s a Confessional for Traders Gone Rogue
New York Fed’s Strange New Role: Big Bank Equity Analyst
As Criminal Probes of JPMorgan Expand, Documents Surface Showing JPMorgan Paid $190,000 Annually to Spouse of the Bank’s Top Regulator
New York Fed’s Answer to Cartels Rigging Markets – Form Another Cartel