Daily Archives: November 22, 2014

Elizabeth Warren Blasts New York Fed President William Dudley

Naked Capitalism has the article and features the video Elizabeth Warren Blasts New York Fed President William Dudley.

According to the posting of the video on YouTube:

The President of the Federal Reserve Bank of New York faced a serious of tough questions from the Senate Banking Committee on Friday, following revelations that one of its former employees had been fired by Goldman Sachs for accessing regulatory information about one of the banks it supervised.

Elizabeth Warren told William Dudley that change in the New York Fed’s culture “has to come from the top” and “you need to fix it, or we need to get someone who will.”

I’d love to see the some action when the government decides “we need to get someone who will” fix this situation.

I didn’t hear Elizabeth Warren make the remark mentioned on the YouTube posting, but I did hear her say to Dudley,

And until you are willing to take meaningful action, our financial system and our whole economy remain at risk.

What kind of regulator puts our whole economy at risk?