{"id":39083,"date":"2018-10-12T18:55:44","date_gmt":"2018-10-12T23:55:44","guid":{"rendered":"http:\/\/olduvai.ca\/?p=39083"},"modified":"2018-10-12T18:55:44","modified_gmt":"2018-10-12T23:55:44","slug":"fed-inspector-turned-whistleblower-reveals-system-rigged-for-goldman-sachs","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=39083","title":{"rendered":"Fed Inspector Turned Whistleblower Reveals System Rigged For Goldman Sachs"},"content":{"rendered":"
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Fed Inspector Turned Whistleblower Reveals System Rigged For Goldman Sachs<\/a><\/span>\u00a0<\/span><\/h3>\n<\/div>\n
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Five years after we first reported on the “Goldman whistleblower” at the NY Fed, Carmen Segarra, the former bank examiner is out with a new book based on more than\u00a046 hours of secret\u00a0recordings.<\/p>\n

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“Noncompliant: A Lone Whistleblower Exposes the Giants of Wall Street<\/a>” is a 340-page\u00a0expos\u00e9 which vastly expands on the breadcrumbs Segarra has been dropping since word of her recordings first came to light, according to the New York Post<\/em><\/a>.<\/p>\n

Segarra was a former bank examiner who looked into Goldman Sachs for the Federal Reserve Bank of New York, and claims she got fired in 2012 after making too much noise about Goldman\u2019s alleged conflicts.<\/p>\n

The New York Fed has often been blasted for its lackadaisical approach to overseeing banks leading up to the 2008 financial crisis. Its last president, William Dudley, was named in 2009 after spending 21 years at Goldman. But Segarra\u2019s book claims that the problem persisted for years after the crisis, with regulators happy to act on the banks\u2019 behalf.<\/p>\n

\u201cWe want [Goldman] to feel pain, but not too much<\/strong>,\u201d her boss \u2014 who goes by the pseudonym Connor O\u2019Sullivan in the book \u2014 told her, Segarra claims. –NY Post<\/a><\/p><\/blockquote>\n

The recordings were made over a seven month period while Segarra worked at the New York Fed. Neither Goldman nor the NY Fed have disputed the authenticity of the tapes.<\/p>\n

Central to allegations of shady reglulation was a 2012 deal in which energy giant Kinder Morgan would acquire rival El Paso Corp. for $21.1 billion –\u00a0a deal which Goldman advised both sides of, while “its lead banker advising El Paso, Steve Daniel, owned $340,000 in Kinder Morgan stock”\u00a0<\/strong>according to the\u00a0Post<\/em>.<\/p>\n

That didn’t matter to newly minted CEO David Solomon, who took over for Lloyd Blankfein last week.<\/p>\n

\u2026click on the above link to read the rest of the article\u2026<\/p>\n<\/div>\n<\/div>\n<\/article>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Fed Inspector Turned Whistleblower Reveals System Rigged For Goldman Sachs\u00a0 Five years after we first reported on the “Goldman whistleblower” at the NY Fed, Carmen Segarra, the former bank examiner is out with a new book based on more than\u00a046 hours of secret\u00a0recordings. “Noncompliant: A Lone Whistleblower Exposes the Giants of Wall Street” is a […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[115,303,376,13350,3650,860,876],"class_list":["post-39083","post","type-post","status-publish","format-standard","hentry","category-economics","tag-carmen-segarra","tag-fed","tag-goldman-sachs","tag-rigged","tag-us-federal-reserve","tag-wall-street","tag-whistleblower"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/39083","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=39083"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/39083\/revisions"}],"predecessor-version":[{"id":39084,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/39083\/revisions\/39084"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=39083"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=39083"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=39083"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}