Surviving Capitalism (Not) : Blowing the Whistle on the New York Fed and Goldman Sachs

We’ve lived so long under the spell of hierarchy—from god-kings to feudal lords to party bosses—that only recently have we awakened to see not only that “regular” citizens have the capacity for self-governance, but that without their engagement our huge global crises cannot be addressed. The changes needed for human society simply to survive, let alone thrive, are so profound that the only way we will move toward them is if we ourselves, regular citizens, feel meaningful ownership of solutions through direct engagement. Our problems are too big, interrelated, and pervasive to yield to directives from on high.
—Frances Moore Lappé, excerpt from Time for Progressives to Grow Up

Tuesday, October 15, 2013

Blowing the Whistle on the New York Fed and Goldman Sachs

Click here to access article by Pam Martens from Wall Street on Parade.

This brief story illustrates where real power lies in our nation--and, it's not with "the people" as you were taught in school. It also illustrates that no matter how many regulations and regulators this nation has, it won't matter to those who rule behind the scenes of official government.

There are a number of interesting aspects to the lawsuit filed by Carmen M. Segarra against the Federal Reserve Bank of New York and three of its employees. Segarra was a bank examiner at the New York Fed who is charging in her lawsuit that she was told to change her negative review of Goldman Sachs and when she refused to do so, she was terminated in retaliation and escorted from the Fed premises.