Stephen Friedman Makes Dick Cheney's Halliburton Deal Look Perfectly Above Board

by: David Sirota

Mon May 04, 2009 at 16:10


I'd say this takes the cake for brazen, shameless, disgusting corruption/conflict-of-interest, even over and above Dick Cheney still getting a paycheck from Halliburton while VP:

The Federal Reserve Bank of New York shaped Washington's response to the financial crisis late last year, which buoyed Goldman Sachs Group Inc. and other Wall Street firms. Goldman received speedy approval to become a bank holding company in September and a $10 billion capital injection soon after.

During that time, the New York Fed's chairman, Stephen Friedman, sat on Goldman's board and had a large holding in Goldman stock, which because of Goldman's new status as a bank holding company was a violation of Federal Reserve policy.

The New York Fed asked for a waiver, which, after about 2½ months, the Fed granted. While it was weighing the request, Mr. Friedman bought 37,300 more Goldman shares in December. They've since risen $1.7 million in value.

Mr. Friedman also was overseeing the search for a new president of the New York Fed, an officer who has a critical role in setting monetary policy at the Federal Reserve. The choice was a former Goldman executive.

I don't really need to add anything other than a note that when asked about all this, Friedman told the Wall Street Journal, "I see no conflict whatsoever in owning shares."

Conflict of interest? What conflict of interest!

These people are disgusting.

David Sirota :: Stephen Friedman Makes Dick Cheney's Halliburton Deal Look Perfectly Above Board

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I *am* reality... (0.00 / 0)
My views constitute reality, end of story.

Gods, the egomania.....


short memory? (0.00 / 0)
I'd say this takes the cake for brazen, shameless, disgusting corruption/conflict-of-interest, even over and above Dick Cheney still getting a paycheck from Halliburton while VP

Well, at least since Boehner was caught handing out tobacco PAC bribery checks to representatives on the fucking House floor, then laughed about it when caught, and said he 'regretted' it but everyone else did it first.

Some people have short memories.


friedmann is a punk (0.00 / 0)
he worked for the goldman faSachists and then made a parallel move into their federal government department in the bush administration and got some job on some economic council and promptly stocks rocketed.  there were a lot of rumors that he was orchestrating the stock rallies.  Don't ever put that past them, the "free marketeers" in the bush administration were involved in all sorts of market rigging to prop up the economy for the '04 elections and during the war so that people would think that the economy was going well and wouldn't feel the cost of the war b4 the '04 elections.  it worked ... at least it helped get them close enough that they could steal the election on the margins by thieving ohio and florida.  some folks say that friedmann is more ruthless than rubin, a fellow goldman faSachist.  I see freidmann has made another parallel move now into their federal reserve department.

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