Sunday, September 28, 2014

Senator Warren calls for investigation of the NY Fed

Following up on the last post, Senators Warren and Brown, both members of the banking committee, are calling for an investigation of the NY Fed in light of Segarra's recordings. She reiterates that this sort of Wall Street ass-licking by regulators is what caused the meltdown in 2008. In one recording a Goldman Sachs executive said “once clients became wealthy enough, certain consumer laws didn’t apply to them,” an Fed regulators told her to ignore the remark and change her meeting minutes. Why is it that only progressive Democrats want to investigate this? We know full well the answer.

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