Did New York Fed Fail to Regulate Goldman Sachs?

The transcript discusses the Federal Reserve's regulation of Wall Street banks, focusing on Carmen Segarra's tapes that reveal potential regulatory shortcomings. The conversation highlights the cozy relationship between the Fed and banks like Goldman Sachs, questioning the effectiveness of current regulations. Despite the tapes' revelations, the discussion suggests that significant changes in regulation are unlikely, and the impact on Goldman Sachs may be minimal.

What historical factor contributes to the cozy relationship between the Fed and Wall Street banks?

• The Fed was created by the government.

• The Fed was established by Wall Street bankers.

• The Fed was founded by international investors.

• The Fed was initiated by small business owners.

What is the main controversy surrounding Carmen Segarra's actions?

• She was ignored by the media.

• She was awarded for her bravery.

• She was praised for her transparency.

• She was criticized for secretly recording colleagues.

What was one of the key issues highlighted by the Carmen Segarra tapes?

• Goldman Sachs' policy on employee benefits.

• The Fed's approval of unethical deals.

• The Fed's lack of a conflict of interest policy.

• Goldman Sachs' involvement in illegal activities.

What was the outcome of the Banco Santander deal according to the tapes?

• It was deemed illegal by the Fed.

• It was ignored by the regulators.

• It was considered legal but unethical.

• It was praised for its transparency.

What is the main concern regarding Goldman Sachs' conflict of interest policy?

• It is fragmented and needs improvement.

• It is comprehensive and effective.

• It is well-documented and enforced.

• It is non-existent and ignored.