Tuesday, May 05, 2009

NY Fed Chairman Illegally Holds Millions in Goldman Shares

The Federal Reserve Bank of New York shaped Washington's response to the financial crisis late last year buoyed Goldman Sachs Group Inc. Then Goldman received a $10 billion capital injection soon after.The NY Fed's chairman, Stephen Friedman, sat on Goldman's board and had a large holding in Goldman stock, in violation of Fed policy and the law

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