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Throw him in jail and get that money to pay for some of Obamas earmarks. Case closed.
New York Fed chairman Friedman abruptly resigns
By Stephen C. Webster
Published: May 7, 2009
Updated 17 hours ago
Stephen Friedman, chairman of the board at the Federal Reserve bank of New York, abruptly resigned Thursday, days after The Wall Street Journal pointed out his approval of a request by Goldman Sachs was in violation of policy because of his considerable holdings in Goldman shares.
“Mr. Friedman was chairman of the New York Fed at the same time he was a member of Goldman’s board. He also had a substantial stake in the firm as the Fed was crafting a solution to keep Wall Street banks afloat,” reported The New York Times.
“Because the New York Fed approved a request by Goldman to become a bank holding company, the chairman’s involvement in Goldman was a violation of Fed policy, The Wall Street Journal said in an article earlier this week,” the Times noted.
“While [the Fed] was weighing [Goldman's] request, Mr. Friedman bought 37,300 more Goldman shares in December. They’ve since risen $1.7 million in value,” reported The Wall Street Journal on May 4.
“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.”
“In a letter to Fed officials, Friedman said, ‘Today, although I have been in compliance with the rules, my public service motivated continuation on the Reserve Bank Board is being mischaracterized as improper. The Federal Reserve System has important work to do and does not need this distraction,’” reported USA Today.
Read a copy of Friedman’s resignation letter, below.
http://www.scribd.com/doc/15065161/F...er-From-NY-Fed
Throw him in jail and get that money to pay for some of Obamas earmarks. Case closed.
How likely is it he's the only one with the appearance of a conflict? There's gotta be something more to this.
I don't know. Maybe as he sits in jail with no money he will be willing to cooperate. If not waterboard his ass. If you don't want to do that let him sit. Either way make a example out of him.
If there is an investigation already underway, that would be a good reason to quit. I'd be a little surprised if Holder prosecuted.
Another Bush appointee leaving the sinking ship, no surprise..he's had a smashing career as a Bush crony: country broke, dollar dying ...
No doubt. There's so much going on that we don't know about it's ridiculous.
it's not hard to connect the dots really..
WhorunsgovWhy He Matters
The veteran of Goldman Sachs who was President Bush’s director of the National Economic Council now serves as the chair of the Federal Reserve Bank of New York, where Timothy Geithner, Obama's pick for Treasury secretary, served as President. Friedman governs the Fed branch with the closest ties to Wall Street, and had a hand in guiding the government’s response to the credit crisis, including shaping the $700 billion bailout plan.
Friedman spent thirty years at Goldman and has close ties to the core group of Goldman alumnae who now hold sway in the Treasury Department, including former Treasury secretary Robert Rubin and Bush Treasury Secretary Henry Paulson.
At a glance
Current Position: Chair, Federal Reserve Bank of New York (since 2008); Chairman, Stone Point Capital, LLC (since 2005)
If Friedman has a conflict of interest then Geitner had gotta go too...
These bas s infiltrated our only hope for change manifested in America's only Different Politician.
What hope can we ever have for the remainder of our existence
Last edited by FaithInOne; 05-08-2009 at 11:55 PM.
What a hurtin' pup.What hope can we ever have for the remainder of our existence
Call 911 if you're scared.
Or go tell it to Today's Chevrolet. They're killing the *Heart Beat of America*.
LMAO, blame it on Bush. Yeah, Obama hasn't been running things for 3 months where he could give the guy the boot.
They're all crooked, quit trying to be a boutons and turn it into a partisan thing.
You can bet your ass Geithner is just as involved and just as filthy, but he's Obama's golden boy.
That's right We won, we can break ethics however we want!
That's why I made the OP, Iggy.
Iggy was so set on avenging my (supposedly) mindless support of the Dems, he failed to notice that I was the one who started the conversation in the first place.
Drink for not paying attention, Iggy.
Everyone look over there!!!!!!
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