Friday, September 26, 2014

Developing story- Former NY Fed bank examiner releases secretly recorded conversations

The radio show "This American Life" did an extended interview with a ex-bank examiner from the Federal Reserve Bank of New York. This woman, who has since been fired from the Fed, secretly recorded conversations between herself, her bosses, and Goldman Sachs employees. She was a permanent on-site examiner at Goldman Sachs during her brief tenure at the Fed, and claims that the Fed's lackadaisical approach to supervision led her to record, and later release, these conversations.

While she claims that she was unfairly terminated for speaking out about the captured culture of the FRBNY,  its worth noting that she also sued her former employer and sought a $7 million settlement. If you haven't picked up on this story yet, its worth checking out. You can also read the FRBNY's official response here.

1 comment:

Detroit Dan said...

I read through the transcript ( -- fairly depressing but no smoking gun as to any legal wrongdoing.