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.

In what ways does the text suggest that the tapes released by Carmen Segarra could be interpreted differently?

What were the two main issues highlighted by ProPublica and This American Life regarding Goldman Sachs?