NY Fed Fired Examiner Who Took on Goldman

by Jake Bernstein
ProPublica, Oct. 10, 2013

A version of this story was co-published with The Washington Post.

In the spring of 2012, a senior examiner with the Federal Reserve Bank of New York determined that Goldman Sachs had a problem.

Under a Fed mandate, the investment banking behemoth was expected to have a company-wide policy to address conflicts of interest in how its phalanxes of dealmakers handled clients. Although Goldman had a patchwork of policies, the examiner concluded that they fell short of the Fed’s requirements.

That finding by the examiner, Carmen Segarra, potentially had serious implications for Goldman, which was already under fire for advising clients on both sides of several multibillion-dollar deals and allegedly putting the bank’s own interests above those of its customers. It could have led to

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The Secret Recordings of Carmen Segarra - This American Life

An unprecedented look inside one of the most powerful, secretive institutions in the country. The NY Federal Reserve is supposed to monitor big banks. But when Carmen Segarra was hired, what she witnessed inside the Fed was so alarming that she got a tiny recorder and started secretly taping.

Prologue

Ira introduces Carmen Segarra, a bank examiner for the Federal Reserve in New York who, in 2012, started secretly recording as she and her colleagues went about regulating one of the most powerful financial institutions in the country. This was during a time when the New York Fed was trying to become a stronger regulator, so that it wouldn't fail to miss another financial crisis like it did with the meltdown in 2008. As part of that effort to reform, the Fed had comm

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Credit Suisse inquiry will keep files secret for 50 years | Reuters

John Revill (Sat, July 15, 2023 at 10:34 AM EDT)

~ ~ _{Isabelle Chassot from the centrist Mitte party and newly designated chair of a Swiss Parliament special commission that will look into the collapse of Swiss bank Credit Suisse and its sale to UBS by Swiss authorities, poses in Bern, Switzerland, June 15, 2023} ~ ~

ZURICH, July 15 (Reuters) - A parliamentary investigation into the collapse of Credit Suisse will keep its files closed for 50 years, according to a parliamentary committee document, a level of secrecy that has triggered concern among Swiss historians.

The document means the investigating comm