Goldman Sachs Tapes Show Fed Deference to Big Banks

The transcript discusses secret tapes made by New York Fed investigator Carmen Segarra, revealing a culture of deference to banks among regulators. A Goldman Sachs employee suggested that wealthy clients are exempt from certain consumer laws, which a Fed regulator dismissed. Goldman denied these allegations. The tapes were part of a joint project by NPR and Pro Publica. Segarra was ultimately fired from the New York Fed.

What was the response of a fed regulator to the Goldman employee's statement?

What happened to Carmen Segarra after her findings at the New York Fed?