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Author Topic: Stephen Friedman & others resign...  (Read 1533 times)
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WhiskeyGirl
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« on: May 08, 2009, 10:54:02 PM »

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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
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WhiskeyGirl
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« Reply #1 on: May 08, 2009, 10:59:26 PM »

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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


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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
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All my posts are just my humble opinions.  Please take with a grain of salt.  Smile

It doesn't do any good to hate anyone,
they'll end up in your family anyway...
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