From the category archives:

New York Fed

Question for Secretary Geithner: What Does “Recuse” Mean?

January 27, 2010

In his sworn testimony today before the House Committee on Oversight and Government Reform, U.S. Treasury Secretary Timothy Geithner reasserted that he had recused himself from making any decision in connection with AIG payments to Goldman Sachs in November 2008.  But he also testified that he was made aware by Fed officials that the payments [...]

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The Great Sphinx and the Mystery of the Federal Reserve

January 11, 2010

The latest flap over taxpayer payments to Goldman Sachs confirms the culture of secrecy upon which the Fed in Washington and its New York counterpart are dependent.   They like the dark, closed-curtain life that bankers prefer, where the sunlight of public scrutiny is seldom an invited guest.  It is a culture to which Mr. Geithner [...]

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Captain Bernanke and the Titanic Fed

December 17, 2009

Catastrophe seems to have a more forgiving master in the Senate banking committee than in the pages of history. The captain of the Titanic was not given another chance at the wheel.  And unlike Mr. Bernanke, he had the decency to hit an iceberg only once. The Senate banking committee voted 16 to 7 today to [...]

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Outrage of the Week: Missing the Roles that Dimon, Fuld and Immelt Played as New York Fed Directors in Wall Street’s Big Bailout

April 11, 2008

The absence of any discussion concerning all the roles held by these important Wall Street figures, including in the governance of the Fed itself, does a disservice to the stakeholders who are entitled to all the facts. It is widely held, even by Fed Chairman Ben S. Bernanke, that the Federal Reserve System helped to [...]

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