A good read and yet another example of Goldman Sachs’ incredible influence over both political party’s and the banking system. The corruption is both sickening and disturbing.
Carmen Segarra is a hero.
Via Pro Publica:
Former bank examiner Carmen Segarra vaulted into public consciousness earlier this month when she filed a wrongful termination lawsuit alleging that the Federal Reserve Bank of New York fired her after she refused to go soft on investment banking behemoth Goldman Sachs.
As ProPublica has reported, the Fed hired Segarra in late 2011 as part of a group of examiners brought on to monitor systemically important banks in the aftermath of the Dodd-Frank regulatory overhaul. The Fed wanted experts in key areas — such as operations, compliance and credit risk — to examine the “Too Big To Fail” financial institutions.
Segarra says she was fired after she found that Goldman lacked an adequate company-wide policy to manage conflicts of interest — and after her superiors urged her to change this finding and she refused. The Fed has denied any wrongdoing in the case, as has Goldman, which is not a defendant in Segarra’s lawsuit.
Read the rest HERE.