Go Back   Club Conspiracy Forums > General Conspiracy Discussion > Opinions
FAQ Members List Calendar Search Today's Posts Mark Forums Read



Reply
 
Thread Tools Display Modes
  #1  
Old 05-11-2009, 04:43 PM
SeC SeC is offline
Senior Member
 
Join Date: Nov 2005
Posts: 2,251
Wink INTERVIEW Geithner: time to review U.S. central bank governance


INTERVIEW Geithner: time to review U.S. central bank governance

Sat May 9, 2009 5:18am

By Glenn Somerville

WASHINGTON (Reuters) - U.S. Treasury Secretary Timothy Geithner said on Friday it was time to review how regional Federal Reserve banks are governed to ensure the public feels confident no conflicts of interest are at play.

Geithner was asked during a Reuters Television interview about the resignation on Thursday of Stephen Friedman, a member of Goldman Sachs Group Inc's Board of Directors and a former chief at the firm, from his post as chairman of the New York Federal Reserve Bank's board. The resignation came after questions were raised about Friedman's purchases of Goldman Sachs stock.

In the interview, Geithner, who was president of the New York Fed until his approval for the Treasury post in January, called Friedman "an enormously dedicated, talented leader of the financial community." Still, Geithner said he and Fed Chairman Ben Bernanke felt it was time to take a look at how the central bank handles potential conflicts of interest.

Friedman, who had led the New York Fed's board since January 2008, bought shares in Goldman in December and again this past January. During that period, the U.S. Treasury and the Fed were drafting plans to bolster the capital held by the nation's big banks.

In his resignation letter, Friedman said he had complied with rules governing such purchases, but did not want to become a distraction while the Fed was fighting a recession. He repeated on Friday that he did not break any rules.

Continue to read:
INTERVIEW - Geithner:time to review U.S. central bank governance | Business News | Reuters

Reply With Quote
Reply


Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Forum Jump


All times are GMT -6. The time now is 10:40 PM.

Powered by vBulletin® Version 3.6.12
Copyright ©2000 - 2014, Jelsoft Enterprises Ltd.