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American Life: Secret tape of a regulator.
Old 11-01-2014, 09:39 AM   #21
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American Life: Secret tape of a regulator.

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Originally Posted by clifp View Post
Last weeks This American Life had very interesting segment on the experience of a Fed regulator who was part of the team in charge of overseeing Goldman Sachs in the Spring of 2009.

Her side of the story was that her fellow regulators were very reluctant to question GS or otherwise make waves. When she started to do so (in her words do her job) she was told to back off, and which point she started recording the meetings.

She eventually got fired and is suing the Fed, so there is obviously an axe to grind her. Still I found her description of the regulator process very plausible and more than a little depressing.

I know we've folks involved in both side of financial regulations, so I'd be interested in their perspective.

P.S the show transcripts are much faster to read, but you miss the cool music and Ira's great radio voice.

What reason was given for her being fired? For 'doing her job' or making illegal recordings?


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Old 11-01-2014, 10:34 AM   #22
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What reason was given for her being fired? For 'doing her job' or making illegal recordings?


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The FRBNY alleges it was for performance issues.
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Old 11-24-2014, 10:21 PM   #23
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This really isn't very surprising if you accept the premise of the article below - which I think I do - that this country has really become more of an oligarchy than a democracy:

Princeton Concludes What Kind of Government America Really Has, and It's Not a Democracy - Mic
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Old 11-24-2014, 10:32 PM   #24
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This really isn't very surprising if you accept the premise of the article below - which I think I do - that this country has really become more of an oligarchy than a democracy:

Princeton Concludes What Kind of Government America Really Has, and It's Not a Democracy - Mic
1) Thankfully, we are not and have never been a democracy. So, a bit of a strawman there in the title.
2) Interesting article at link, but I didn't find it persuasive. "Science"? I guess if "social science" and "political science" are "science"
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Old 11-24-2014, 10:45 PM   #25
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1) Thankfully, we are not and have never been a democracy. So, a bit of a strawman there in the title.
Yeah, California kinda IS a democracy - with all those crazy "propositions" they keep passing - and we see how that's working out.

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2) Interesting article at link, but I didn't find it persuasive. "Science"? I guess if "social science" and "political science" are "science"
Any science with the word "science" in the name is not really a science ?
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Old 11-24-2014, 11:59 PM   #26
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I live in Minnesota, and one of the guys running for the state legislator had signs promising that he would keep an e-mail/text list that he would poll to decide all of his votes.

He came to my door and couldn't understand why I thought he was a complete idiot.

He lost, but 45% of my neighbors voted for him.

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Yeah, California kinda IS a democracy - with all those crazy "propositions" they keep passing - and we see how that's working out.
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