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NY Fed chair resigns amid stock purchase questions

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avaistheone1 Donating Member (1000+ posts) Send PM | Profile | Ignore Thu May-07-09 09:12 PM
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NY Fed chair resigns amid stock purchase questions
NEW YORK (Reuters) – Stephen Friedman, chairman of the New York Federal Reserve Bank's board of directors, resigned on Thursday amid questions about his purchases of stock in his former firm, Goldman Sachs.

Friedman, a retired chairman of Goldman Sachs who has led the New York Fed's board since January 2008, said he quit to prevent criticism about his stock buying from becoming a distraction as the Fed battles a severe U.S. recession.

http://news.yahoo.com/s/nm/20090508/pl_nm/us_usa_fed_friedman/print



What a tangled web they weave.
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TahitiNut Donating Member (1000+ posts) Send PM | Profile | Ignore Thu May-07-09 09:17 PM
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1. (Hmmmm..) I wonder if Geithner knew.
:shrug:
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avaistheone1 Donating Member (1000+ posts) Send PM | Profile | Ignore Thu May-07-09 09:19 PM
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2. Good question. No doubt this is a major conflict of interest.
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AdHocSolver Donating Member (1000+ posts) Send PM | Profile | Ignore Fri May-08-09 01:03 AM
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3. The Fed is a central player in the banking and corporate frauds perpetrated on America. nt
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LittleBlue Donating Member (1000+ posts) Send PM | Profile | Ignore Fri May-08-09 01:21 AM
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4. No more Goldman Sachs please
at govt. positions.

It's giving the embarrassing impression that the whole govt. is run by Goldman Sachs.
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