Stephen C. Webster
Raw Story
Friday, May 8, 2009
Stephen Friedman, chairman of the board at the Federal Reserve bank of New York, abruptly resigned Thursday, days after The Wall Street Journal pointed out his approval of a request by Goldman Sachs was in violation of policy because of his considerable holdings in Goldman shares.
“Mr. Friedman was chairman of the New York Fed at the same time he was a member of Goldman’s board. He also had a substantial stake in the firm as the Fed was crafting a solution to keep Wall Street banks afloat,” reported The New York Times.
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