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Title: Stephen Friedman & others resign... Post by: WhiskeyGirl on May 08, 2009, 10:54:02 PM Quote Stephen Friedman, chairman of the Federal Reserve Bank of New York's board of directors, has resigned effectively immediately, the bank announced Thursday. Friedman was the subject of a recent Wall Street Journal story that raised questions about his ties to Goldman Sachs Group Inc. "Although I've have been in compliance with the rules, my public service ... on the Reserve Bank Board is being mischaracterized as improper," Friedman said in his resignation letter. "The Federal Reserve System has important work to do and does not need this distraction." Denis Hughes, deputy chair of the New York Fed's board, will step in and "exercise the powers and the duties" of board chairman, the regional bank said. read more here - http://www.aol.com.au/news/story/New-York-Fed-Chairman-Stephen-Friedman-resigns/2030221/index.html (http://www.aol.com.au/news/story/New-York-Fed-Chairman-Stephen-Friedman-resigns/2030221/index.html) Title: Re: Stephen Friedman & others resign... Post by: WhiskeyGirl on May 08, 2009, 10:59:26 PM Quote Societe Generale chairman Daniel Bouton said Wednesday he will resign from the French bank, saying repeated attacks on him were a threat to the bank's health. Quote A firestorm erupted at the bank in late January 2008 after it announced losses of almost euro5 billion (more than $7 billion) in a scandal it has blamed on unauthorized trades by a single trader, Jerome Kerviel. (snip) Kerviel maintains that his superiors were aware of his risky transactions but looked the other way while he was earning big money for the bank, intervening only when he started to lose. The bank insists Kerviel was acting alone. http://www.aol.com.au/news/story/Societe-Generale-chairman-to-resign-over-criticism/678201/index.html (http://www.aol.com.au/news/story/Societe-Generale-chairman-to-resign-over-criticism/678201/index.html) Quote Revealed: 15 AIG bailout counterparties (AIG 'pass-through') A reliable source, however, has given FORTUNE a list of 15 counterparties, with no dollar figures attached. The list contained the names in the following order. FORTUNE sought comment from all of the financial institutions and none said their inclusion on the list was inaccurate. Société Générale (France) Goldman Sachs (GS, Fortune 500) Merrill Lynch International Deutsche Bank (Germany) Calyon, Crédit Agricole (France) UBS (Switzerland) Barclays (England) Coral Purchasing, DZ Bank (Germany) Bank of Montreal (Canada) Rabobank (the Netherlands) Royal Bank of Scotland Bank of America Wachovia HSBC (England) Barclays Global Investors http://money.cnn.com/2009/03/07/news/companies/aig.fortune/index.htm (http://money.cnn.com/2009/03/07/news/companies/aig.fortune/index.htm) |