Insider Reveals 'Secret Fed Tapes' Goldman Sachs is untouchable! No Oversight by Fed!

www.bloombergview.com...

m.thisamericanlife.org...

PDF of transcript (automatic download) www.thisamericanlife.org...

This is perhaps the biggest news since the financial collapse. Insider explains how the Federal Reserve regulators are powerless to even question Goldman Sachs.

This news can not be dismissed as "right-wing" as it comes from NPR's "this American Life" perhaps the biggest left-wing news outlet in the country. And it's not being picked up by Breitbart news but Bloomberg!

It's worth the listen/read.

How Segarra got herself fired by the Fed is interesting. In 2012, Goldman was rebuked by a Delaware judge for its behavior during a corporate acquisition. Goldman had advised one energy company, El Paso Corp., as it sold itself to another energy company, Kinder Morgan, in which Goldman actually owned a $4 billion stake, and a Goldman banker had a big personal investment. The incident forced the Fed to ask Goldman to see its conflict of interest policy. It turned out that Goldman had no conflict of interest policy -- but when Segarra insisted on saying as much in her report, her bosses tried to get her to change her report. Under pressure, she finally agreed to change the language in her report, but she couldn't resist telling her boss that she wouldn't be changing her mind. Shortly after that encounter, she was fired.)

a reply to: filosophia

Do you know if this has anything to do with the powers given to the Federal Reserve after the collapse of 2007 by George Bush?

a reply to: filosophia

sounds like she took one for the team

a reply to: filosophia
Thanks s&f
Hope this gains more attention.

1. You sort of knew that the regulators were more or less controlled by the banks. Now you know.

2. The only reason you know is that one woman, Carmen Segarra, has been brave enough to fight the system. She has paid a great price to inform us all of the obvious. She has lost her job, undermined her career, and will no doubt also endure a lifetime of lawsuits and slander.Op source

a reply to: filosophia

Damn!!! So I guess this is what you get when you have a Team of Regulators who are nothing but a bunch of Pencil Pushing Pussies who'd rather be buddies with those they are supposed to keep an eye on rather than do their jobs.

All but this one woman who, does her job exactly as she is supposed to and she is fired for her effort. Meanwhile she was the only possible chance any of us had in stopping Financial Crisis and she was shut down and ignored.

Then she brings her "Wrongful Termination" suit to court and so far is again being silenced and ignored by the alleged Justice System.

Sadly, this is condition of this Nation and it's Power Structure and how it operates.

Land of the Meek, Home of the Slave!! Lady Liberty selling tricks on the corner to low life criminals in White Collar Suits snorting coke off the tits of Mother America as she wipes up the wet spot with the Stars and Bars!!

Now, as promised, Satan will lead us all in the National Anthem and some Prayer dedicated to how this is the Best Nation on Earth!!!

a reply to: filosophia

Heard it this morning on This American Life, complete with recordings that brave woman made of Chief regulators rolling over for Goldman Sachs. Just effen horrific.

Ponder this everytime you pay a tax bill...

A senior Goldman executive, at a meeting with Fed officials early in Segarra's tenure, expressed the view that "once clients were wealthy enough, certain consumer laws didn’t apply to them," in Bernstein's words; this is corroborated by minutes from the meeting in questions.

AND...in case anyone if confused..this occurred recently AFTER the financial crisis...
This is a non-partisan issue...$$$$...know now political affiliation.

originally posted by: LDragonFire
a reply to: filosophia

Do you know if this has anything to do with the powers given to the Federal Reserve after the collapse of 2007 by George Bush?

According to this woman, she was sent in AFTER the financial crisis under the heading of more/stricter over-sight of the banks, only to discover a team of regulators that were pandering and kissing the asses of Goldman Sachs...and she has the tape recordings to prove it.

Painfully sad...

My favorite description of Goldman Sachs...

The now famous Rolling Stone magazine article in 2009 by Matt Taibbi unforgettably referred to Goldman Sachs, the world’s most powerful investment bank, as a “great vampire squid wrapped around the face of humanity, relentlessly jamming its blood funnel into anything that smells like money.”

I don't think any really thinks that gov't regulators are doing their jobs. Madoff got away with his ponzi for years because the SEC regulators turned a blind eye to his shenanigans. The Fed is doing the same thing.

Look at it this way:
The top level employees at the Fed are all former bank executives, many from Goldman Sachs. The underlings, the folks doing the grunt work, like this woman, are paid far, far less than the people they are regulating. Their goal is often to move from the regulator side of things to compliance, where they can use their knowledge and contacts to help the big banks keep themselves out of trouble.

Asking someone making, maybe, $75,000 to ensure that guys making tens, if not hundreds, of millions of dollars comply with the rules and regulations is like asking the tiny straight A student to take over detention and make sure the big bad bullies all behave.

Is been know by decades the origins of Wall Street, taking into consideration the big names of that origins and also how the fed got established, is not doubt that Walls street has always owned the Federal Reserve, actually we the people do not own anything anymore but the debt.

All people needs to do is a research of members of cabinet positions appointed by the President itself, they are all linked in one way or the other to Walls Street and their founders investment firms.

a reply to: LDragonFire

Could be, I am sure that it could, but remember, but they need no encouragement by any president, the fed have always been owned by Walls Street.

The first step would be to bring banking under the oversight of the government, and make them accountable for every single thing they do. The FED is just ridiculous because it should not exist. The people should know everything that goes on where the economy is concerned, and the fact that the FED is a private institution still astonishes me. The country was sold out when that happened. There would obviously still be problems with a government-controlled financial system, but as long as they were not allowed to withhold the truth then things would be somewhat better. It would be easier to expose the fraud. There are so many conflicts of interest with employees of the FED that it is ridiculous.

a reply to: Crakeur

Asking someone making, maybe, $75,000 to ensure that guys making tens, if not hundreds, of millions of dollars comply with the rules and regulations is like asking the tiny straight A student to take over detention and make sure the big bad bullies all behave.

Gotta know your limits, there are getting to be an irritating number of blood flags to go stand under these days..
There are free market tools that don't make the headlines which will eventually provide checks and balances.
Globally JQ public made the mistake of taking on too much debt and that has put the world into a recession.
That was a democratic choice and now we are living with the consequences.

True the public probably is no longer getting any kind of accurate information, if you want to prevent acquisitor sharks from taking advantage of the situation you obviously can't tell anybody the truth!

the "wealthy" run this country, and they will do anything it takes to keep and grow that wealth....if a policy or law hurts that effort, it will be challenged and changed. if it doesn't concern that objective, the "wealthy" will not intervene.

a reply to: filosophia

Transparent economy is the solution. Keep everything as is, but be able to access any and all financial records and transactions from anywhere in the US and then world. Unrestricted too. Log on to computer, go to this website, type in the name of the company or business and see the money trail. (without doing research for days)

originally posted by: JiggyPotamus
The first step would be to bring banking under the oversight of the government, and make them accountable for every single thing they do.

Oh but that's socialism! We can't dare impede our capitalist system with overregulation! People might lose jobs because a billionaire made less money last quarter! The banking billionaires are job creators!

I think we all suspected this but it's different when you get proof.

This should be the biggest story on this website (and everywhere else).

You guys been living under a rock? Money buys you all kinds of favors when your guy wins or the right lobbiest paays the right Person. Investing money in polotics is all about skewing the system in your davor.