Federal Reserve Facing Scrutiny After Corruption Scandals

By: Monday November 24, 2014 7:58 am

Last Friday New York Federal Reserve Chairman and former Goldman Sachs Chief Economist William Dudley went before the Senate Banking Subcommittee on Financial Institutions and Consumer Protection. Dudley testified in the wake of a slew of scandals the New York Fed was caught up in including a secret recording that revealed the Fed looked on [...]

After Corruption Scandal Federal Reserve Says It May Start Enforcing Law

By: Tuesday October 21, 2014 9:16 am

In the aftermath of the exposure of the Federal Reserve collaborating with Goldman Sachs to prevent the bank from being accountable for breaking the law, Fed officials warned Wall Street that if banks did not cut back on reckless and criminal behavior they might finally face penalties including being broken up. The warnings were issued [...]

Secret Goldman Sachs Tapes Reveal Culture Of Corruption At Federal Reserve

By: Friday September 26, 2014 7:22 am

$GS' Lloyd Blankfein & @HillaryClinton at Women Entrepreneurs #CGI2014 dinner hosted by #10KWomen cc @ClintonGlobal pic.twitter.com/P5bc0mGkSc — GS 10,000 Women (@GS10KWomen) September 24, 2014 The radio program This American Life is airing parts of secret recordings made by Carmen Segarra of meetings she attended at Goldman Sachs while acting as a regulator for the Federal [...]

Federal Reserve Survey Shows Wealth Inequality Worsening

By: Friday September 5, 2014 9:25 am

The wealth share of the top 3% climbed from 44.8% in 1989 to 51.8% in 2007 & 54.4% in 2013 http://t.co/xi2eS5479H — Mark Price (@price_laborecon) September 5, 2014 Yet more evidence there is no “recovery” for most Americans. According to the  Federal Reserve Survey of Consumer Finances the rich are siphoning off even more wealth [...]

Citigroup Fails Another Stress Test

By: Thursday March 27, 2014 9:00 am

Six years after the financial crisis Citigroup has failed a stress test by the Federal Reserve. Citigroup’s capital plan included a quintupling of its dividend but Fed regulators wanted the Too Big To Fail bank to hold onto more capital. The Fed noted that Citigroup had “multiple deficiencies” in how Citigroup projected potential losses and [...]

Federal Reserve May Continue To Promote Wall Street’s Expansion Into Commodities

By: Tuesday January 14, 2014 10:45 am

The destructive trend of financializing the US economy may continue if the Fed has their way. Despite complaints by companies in the real economy over the manipulation of commodity prices by the banksters on Wall Street, the Fed is set to punt on limiting Wall Streets invasion of the real economy. Wall Street has always [...]

Former Fed Reserve Official Comes Clean On QE, Apologizes To America

By: Tuesday November 12, 2013 7:56 am

The Federal Reserve’s massive subsidy to Wall Street known as “quantitative easing” or QE, was controversial from the beginning. Many have opposed the program for a variety of reasons from inflation fears to the fact that the program is socialism for the rich – giving hundreds of billions dollars to the 1% and giving nothing [...]

NY Fed President Says Wall Street ‘Lacks Respect For The Law’

By: Friday November 8, 2013 8:47 am

Is there anyone left who doesn’t think Wall Street has a culture of corruption? Even the President of the New York Federal Reserve William Dudley, a former Chief Economist at Goldman Sachs, has now critiqued Wall Street’s open contempt for the rule of law. Dudley claimed the banksters have displayed “deep-seated cultural and ethical failures.” [...]

Janet Yellen Set To Be First Female Federal Reserve Chair

By: Wednesday October 9, 2013 6:37 am

According to reports Janet Yellen is likely to be announced today as the first female chair of the Federal Reserve. Yellen’s nomination would come after the withdrawal of Larry Summers who proved too controversial to be confirmed by the Senate. Yellen is currently a vice chairwoman at the Fed and is currently considered to face an easy confirmation process by the Senate.

Federal Reserve Program Is Socialism For The Rich

By: Friday September 20, 2013 9:39 am

If you have followed any economic news at all you will have heard the term quantitative easing, or QE, which is technocratic shorthand for the Federal Reserve shoveling funds into Wall Street banks to produce a phenomenon known as the “wealth effect.” The wealth effect relies principally on trickery. The hope being that people will see higher [...]

Larry Summers Withdraws From Fed Chair Race

By: Monday September 16, 2013 4:53 am

In a stinging rebuke to the forces of financial deregulation in general, and the Robert Rubin clique in particular, Larry Summers withdrew his name from consideration for Chairman of the Federal Reserve after it became clear he could not be confirmed. The withdrawal marks a major failure for a man whose path to power seemed unstoppable [...]

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