How times have changed. It was nearly 16 short months ago when then CFTC Commissioner and Loud Reform Advocate Bart Chilton was publicly scolding the U.S. Federal Reserve for failure to disclose the major bank’s commodity positions. Back then, questioning anything relative to how the big banks or the Federal Reserve operated, shining light questionable maneuvers that the gods who were de-facto running U.S. economic policy perpetrated, appeared strictly verboten. Fast forward to the rather frank congressional testimony of Federal Reserve Board Governor Daniel Tarullo as he singled out Morgan Stanley and Goldman Sachs over continued trading in commodities markets. A…
On This Page
- Tarullo: "Negative talk about the banks and related criminal behavior can lead to a loss of market confidence"
- Tarullo - Hunt brothers dream: controlling the commodity distribution channel and then trading on the information
- Tarullo: Slow turning up of heat has happened despite concerns from top officials that holding individual Wall Street executives responsible for criminal activity would damage market confidence
- Tarullo: Goldman Sachs wants to hold on to its hard earned grandfather exemption, a feat accomplished during the reign of Bill Clinton
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