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User Info FLASH: NY Fed President RESIGNS in forum [Ticker]
Genesis
Posts: 71435
Incept: 2007-06-26
A True American Patriot!
KD^2
Report This As A Bad Post Add To Your Ignored User List Ignore this thread 		http://market-ticker.org/archives/1022-F....

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"The monetary base in ALL modern monetary systems is the sum of unencumbered assets against which one is both WILLING AND ABLE to borrow." - Me
2009-05-07 17:32:08
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Truthseeker
Posts: 2016
Incept: 2007-10-07
A True American Patriot!
NW US
Online
Report This As A Bad Post Add To Your Ignored User List 		Hell yes. Now let's see some prosecutions!

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"The real leech****s are not the welfare people, but the paper shufflers in privileged positions who are skimming the money flows."
"
~ Bozonian
2009-05-07 17:35:04
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Sunriser1
Posts: 1879
Incept: 2007-10-30
A True American Patriot!
lake tahoe nevada
Report This As A Bad Post Add To Your Ignored User List 		I think they are starting to listen to you.

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"CHAPTER 9"
2009-05-07 17:36:29
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Bozonian
Posts: 14033
Incept: 2007-09-01

PFT - Pure F'n Tin
Report This As A Bad Post Add To Your Ignored User List 		Nice!

But is he resigning because of scandal, or he doesn't want to be around when the REAL SHTF? Because the latter means I should go balls deep into FAZ.

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I'm so depressed about outsourcing I called the suicide hotline and got a call center in Pakistan. They got all excited and asked me if I could drive a truck.

Everything I write is my opinion and not to be considered proven fact. Nothing I write should be considered financial advice.

Last modified: 2009-05-07 17:36:59 by bozonian

2009-05-07 17:36:32
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Lowbeyond
Posts: 6905
Incept: 2008-02-11
A True American Patriot!
CO
Online
Report This As A Bad Post Add To Your Ignored User List 		Its a start !

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Maybe it was a birdy bread-bomber from the future?!
2009-05-07 17:36:42
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Bigcat
Posts: 1523
Incept: 2008-09-10

Nice, France
Report This As A Bad Post Add To Your Ignored User List 		did he take the elevator down?

...or the window?





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"When the goal shifts to simple survival for the Fed their goals will change drastically and their strategy will adjust accordingly...Like Congress, the Fed will throw its "allies" under the bus when they become a political liability. Look at Mozillo now! " Sushihorn, 07/09
2009-05-07 17:38:33
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Asimov
Posts: 26716
Incept: 2007-08-26

east tennessee
Report This As A Bad Post Add To Your Ignored User List 		What if it's not what you think? It could be a disagreement about policy. Why would he dump it in right as the stress tests are released? An expectation that it would hurt the markets less? But effective immediately?

Things that make me go hmm...

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It's justifiably immoral to try to deal in a moral fashion with an immoral entity.

If you trade based on what other people say, you will lose money. Especially what I say. I won't be held responsible. Festina lente.
2009-05-07 17:38:56
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Wisc-xc
Posts: 4828
Incept: 2007-07-14

outside chicago
Report This As A Bad Post Add To Your Ignored User List 		He's out cause of the scandal. Once the WSJ was all over this it was only a matter of time before the shoe had to drop. Incest purging.

2009-05-07 17:39:09
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Sp
Posts: 55
Incept: 2008-02-26
Report This As A Bad Post Add To Your Ignored User List 		A riddle: there are no outsiders. Therfore, there are no insiders.

2009-05-07 17:40:12
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Boshaugh
Posts: 1886
Incept: 2008-08-08

Northern Virginia/DC Metro Area
Report This As A Bad Post Add To Your Ignored User List 		CNBC reports he was out for holding the stock. they make it seem like it was stock he has held for years, not stock he purchased off the lows

2009-05-07 17:41:37
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Karlmarxghost
Posts: 2641
Incept: 2009-01-26

Stealing Your Property
Report This As A Bad Post Add To Your Ignored User List 		What scandal are we referring to?

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My views are my view and mine alone. Karl or ticker forum does not endorse or necessarily agree with my views. DO not trade on my views or take them personally.
2009-05-07 17:43:11
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Wisc-xc
Posts: 4828
Incept: 2007-07-14

outside chicago
Report This As A Bad Post Add To Your Ignored User List 		To quote gen, TJ:

Quote:
The Federal Reserve Bank of New York's Chairman, who was sitting on Goldman Sachs' board, continued to serve after they converted to a bank holding company and was in fact buying their stock.

2009-05-07 17:44:41
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Keewaydin
Posts: 1547
Incept: 2007-08-22

Just a fleshwound!
Report This As A Bad Post Add To Your Ignored User List 		He was buying up GS shares despite his policymaking role.

Maybe now he wants to dump them for the gain.

2009-05-07 17:44:48
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Gwesten
Posts: 496
Incept: 2007-07-04

Gulf Coast, AL
Report This As A Bad Post Add To Your Ignored User List 		CNBS ****head reorter also said, with a huge sigh, that he recieved a waiver 2-weeks ago. He of course did not say anything about his recent stock buy.

2009-05-07 17:47:30
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Wisc-xc
Posts: 4828
Incept: 2007-07-14

outside chicago
Report This As A Bad Post Add To Your Ignored User List 		Love to see the prick get some ass stretching time in the clink.

2009-05-07 17:47:34
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Karlmarxghost
Posts: 2641
Incept: 2009-01-26

Stealing Your Property
Report This As A Bad Post Add To Your Ignored User List 		Was it illegal what he did or just a conflict of interest. If illegal where are the charges?

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My views are my view and mine alone. Karl or ticker forum does not endorse or necessarily agree with my views. DO not trade on my views or take them personally.
2009-05-07 17:48:24
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Jazen
Posts: 1510
Incept: 2007-07-17

Online
Report This As A Bad Post Add To Your Ignored User List 		Tomorrow is going to be a huge tankage day.

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Y'all smoke this **** to escape reality?
Me, I don't need this ****.
I am reality.

2009-05-07 17:48:25
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Keewaydin
Posts: 1547
Incept: 2007-08-22

Just a fleshwound!
Report This As A Bad Post Add To Your Ignored User List 		Here's his resignation letter:

Quote:

STEPHEN FRIEDMAN
919 THIRD AVENUE
Suite 38N06
New York, NY 10022
May 7, 2009
Mr. William C. Dudley
President
Federal Reserve Bank of New York
33 Libert Street
New York, NY 10045
Dear Bil:
By copy of this letter to Chairman Bernanke, I hereby resign as a Class C Director and
Chairman of the Board of the Federal Reserve Bank of New York, effective immediately.
Last Fall, after Goldman Sachs Group, Inc. became a bank holding company, I agreed to
remain on the Board, pursuant to the waiver authority of the Board of Governors of the Federal
Reserve System, to provide continuity during a time of financial market instability. Today,
although I have been in compliance with the rules, my public service motivated continuation on
the Reserve Bank Board is being mischaracterized as improper. The Federal Reserve System has
important work to do and does not need this distraction.
Please convey my appreciation and respect to my fellow Directors and the Reserve Bank
staff for their cooperation and their service. It has been a pleasure to work with you, your
predecessor, and our distinguished Board, as well as the dedicated, hard-working men and
women of the New York Fed. The New York Fed plays an extraordinary and vital role in
restoring stability to the financial system durng this very critical period, and it has been an honor
to be part of the institution's effort. I also am grateful to Chairman Bernanke and the other
Members and staff of the Board of Governors for their advice and support in connection with the
search for a new Chief Executive Officer for the New York Fed.
~~~~
cc: The Honorable Ben S. Bernanke
Chairman
Federal Reserve Board of Governors
Federal Reserve System
Washington, DC 20551



http://online.wsj.com/public/resources/d....

He was plainly not in compliance with the rules - he sought to have them changed after the fact.

Last modified: 2009-05-07 17:52:02 by keewaydin
Reason: Fix typos from OCR version - add bold and note

2009-05-07 17:48:32
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Bigcat
Posts: 1523
Incept: 2008-09-10

Nice, France
Report This As A Bad Post Add To Your Ignored User List 		actually, i hear he sent it via yahoo messenger.

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"When the goal shifts to simple survival for the Fed their goals will change drastically and their strategy will adjust accordingly...Like Congress, the Fed will throw its "allies" under the bus when they become a political liability. Look at Mozillo now! " Sushihorn, 07/09

Last modified: 2009-05-07 17:50:12 by bigcat
Reason: typo

2009-05-07 17:49:52
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Lastchance
Posts: 1132
Incept: 2008-11-19
Las Vegas
Report This As A Bad Post Add To Your Ignored User List 		Imagine that. See, our team doesn't always lose. It just takes a LITTLE investigative effort to get someone, or for that matter, ANYONE to cave. Of course, the caveat being there MIGHT be a honest man out there. Which sort of connects to a Three Stooges episode where they actually try to find a honest man.

Oh geez, the swamp has not only been detected, but EPA crews (obviously it is not the EPA; it is other well-known government entities) are coming. That could be a problem for some high level folks and their families, unless they want to TELL THE TRUTH NOW before it's too late.

Posted on a public forum in the United States of America and relayed to over 2000 folks. To them, do something ASAP.

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"We don't quit. I don't quit" President Obama 1/27/10

Man, I would to have him in one of our poker games.
2009-05-07 17:55:17
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Drunkle
Posts: 1002
Incept: 2008-02-11
san diego ca
Report This As A Bad Post Add To Your Ignored User List 		he's just a fed chairman, what does he know bout securities laws? he didn't know he couldn't buy shares on inside information... er, make that, regulatory policy decision making ability. make him give the money back, no harm no foul.

what, you want him to pay TAXES on it too? you're a barbarian!






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America: Home of the Fleeced, Land of the Slaves


2009-05-07 17:55:39
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Outerlimits
Posts: 383
Incept: 2008-03-13
Report This As A Bad Post Add To Your Ignored User List 		Who replaces him??????

2009-05-07 17:58:03
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Asimov
Posts: 26716
Incept: 2007-08-26

east tennessee
Report This As A Bad Post Add To Your Ignored User List 		His deputy.

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It's justifiably immoral to try to deal in a moral fashion with an immoral entity.

If you trade based on what other people say, you will lose money. Especially what I say. I won't be held responsible. Festina lente.
2009-05-07 17:58:45
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Genesis
Posts: 71435
Incept: 2007-06-26
A True American Patriot!
KD^2
Report This As A Bad Post Add To Your Ignored User List 		He should trade his shares for a firearm.
Then use it on himself.

THAT would be honorable.

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"The monetary base in ALL modern monetary systems is the sum of unencumbered assets against which one is both WILLING AND ABLE to borrow." - Me
2009-05-07 18:02:25
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Dji
Posts: 720
Incept: 2009-04-21

Fleming Island
Online
Report This As A Bad Post Add To Your Ignored User List 		JUMP YOU ****ER!!!

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What goes up Must come Down- Alan Parsons Project
THE TRUTH HURTS! -Dji

Last modified: 2009-05-07 18:04:25 by dji

2009-05-07 18:03:52
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