Tuesday, November 13, 2007

The Bloodless Coup Continues

"Stephen Friedman, chairman of Stone Point Capital LLC and director of President Bush's National Economic Council from 2002 to 2004, will become chairman of the New York Fed's board next year, the Fed announced. Mr Friedman was co-chairman of Goldman Sachs & Co. from 1990 to 1994", WSJ, 9 November.

Isn't it amazing how public spirited Goldman Sachs alumni are? I repeat what I wrote on 14 October, "Establish a 25-year moratorium on any GS executive working for the Treasury or Fed". I now would extend this moratorium to any "former" GS who had worked for GS at any time in the last 25 years.

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