{"id":601,"date":"2014-10-25T19:52:49","date_gmt":"2014-10-25T23:52:49","guid":{"rendered":"http:\/\/olduvai.ca\/?p=601"},"modified":"2014-10-25T19:52:49","modified_gmt":"2014-10-25T23:52:49","slug":"new-york-feds-conference-evokes-thoughts-of-violence-against-wall-street","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=601","title":{"rendered":"New York Fed\u2019s Conference Evokes Thoughts of Violence Against Wall Street"},"content":{"rendered":"<p><a href=\"http:\/\/wallstreetonparade.com\/2014\/10\/new-york-feds-conference-evokes-thoughts-of-violence-against-wall-street\/\">New York Fed\u2019s Conference Evokes Thoughts of Violence Against Wall Street<\/a>.<\/p>\n<p>&nbsp;<\/p>\n<p><a style=\"background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; vertical-align: baseline; color: #121c5e; background-position: initial initial; background-repeat: initial initial; padding: 0px; margin: 0px; border: 0px initial initial;\" href=\"http:\/\/wallstreetonparade.com\/wp-content\/uploads\/2012\/09\/Occupy-Wall-Street-Protesters-Outside-the-New-York-Fed-September-17-2012.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-1772\" style=\"background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; vertical-align: baseline; height: auto; max-width: 510px; line-height: 18px; text-align: center; background-position: initial initial; background-repeat: initial initial; padding: 6px; margin: 0px 0px 10px 0px; border: 0px none initial;\" src=\"http:\/\/wallstreetonparade.com\/wp-content\/uploads\/2012\/09\/Occupy-Wall-Street-Protesters-Outside-the-New-York-Fed-September-17-2012.jpg\" alt=\"Occupy Wall Street Protesters Outside the New York Fed, September 17, 2012\" width=\"250\" height=\"163\" \/><\/a><\/p>\n<p style=\"background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; vertical-align: baseline; background-position: initial initial; background-repeat: initial initial; padding: 0px; margin: 0px 0px 24px 0px; border: 0px initial initial;\">What the New York Fed attempted to pull off this past Monday with its full-day conference for the execs of wayward Wall Street banks was a public relations stunt to switch the national debate from\u00a0<em style=\"background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; vertical-align: baseline; font-style: italic; background-position: initial initial; background-repeat: initial initial; padding: 0px; margin: 0px; border: 0px initial initial;\">its<\/em>\u00a0culture to\u00a0<em style=\"background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; vertical-align: baseline; font-style: italic; background-position: initial initial; background-repeat: initial initial; padding: 0px; margin: 0px; border: 0px initial initial;\">Wall Street\u2019s<\/em>\u00a0culture. Styled as a \u201cWorkshop on Reforming Culture and Behavior in the Financial Services Industry,\u201d the event came less than a month after ProPublica and public radio\u2019s \u201cThis American Life\u201d released\u00a0<a style=\"background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; vertical-align: baseline; color: #121c5e; background-position: initial initial; background-repeat: initial initial; padding: 0px; margin: 0px; border: 0px initial initial;\" href=\"http:\/\/www.propublica.org\/article\/carmen-segarras-secret-recordings-from-inside-new-york-fed\">internal tape recordings<\/a>\u00a0made by a former New York Fed bank examiner, Carmen Segarra, revealing a regulator with no bark or bite.<\/p>\n<p style=\"background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; vertical-align: baseline; background-position: initial initial; background-repeat: initial initial; padding: 0px; margin: 0px 0px 24px 0px; border: 0px initial initial;\">ProPublica\u2019s Jake Bernstein wrote that the tapes and a confidential report by an outside consultant demonstrated the New York Fed\u2019s \u201chistory of deference to banks.\u201d<\/p>\n<p style=\"background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; vertical-align: baseline; background-position: initial initial; background-repeat: initial initial; padding: 0px; margin: 0px 0px 24px 0px; border: 0px initial initial;\">But there is far more to this story. Wall Street banking executives, who elect two-thirds of the Board of Directors of the New York Fed and have frequently served on its Board, have structured the institution to be its sycophant. Consider the fact that Jamie Dimon, CEO of JPMorgan Chase, sat on the Board of the New York Fed from 2007 through 2012 as the regulator failed to follow through on three separate staff recommendations that JPMorgan\u2019s Chief Investment Office undergo a thorough investigation, as reported this week by the Federal Reserve System\u2019s Inspector General.<\/p>\n<p style=\"background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; vertical-align: baseline; background-position: initial initial; background-repeat: initial initial; padding: 0px; margin: 0px 0px 24px 0px; border: 0px initial initial;\">&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>New York Fed\u2019s Conference Evokes Thoughts of Violence Against Wall Street. &nbsp; What the New York Fed attempted to pull off this past Monday with its full-day conference for the execs of wayward Wall Street banks was a public relations stunt to switch the national debate from\u00a0its\u00a0culture to\u00a0Wall Street\u2019s\u00a0culture. Styled as a \u201cWorkshop on Reforming [&hellip;]<\/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":[115,306,569,860],"class_list":["post-601","post","type-post","status-publish","format-standard","hentry","category-economics","tag-carmen-segarra","tag-federal-reserve-bank","tag-new-york-fed","tag-wall-street"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/601","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=601"}],"version-history":[{"count":0,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/601\/revisions"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=601"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=601"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=601"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}