Fed and Treasury Irate at NY Bank Regulator's Vulgar Display of Public Diligence with Standard CharteredSubmitted by PWA on Wed, 08/08/2012 - 15:51
Spitzer: If they shut me up, who'll take my place?
Lawsky: I will
The NY Banking regulators clearly do not understand the regulatory 'hands off' philosophy of Treasury and the Fed towards the pampered princes of finance and the privileged few.
This was supposed to have been privately settled amongst gentlemen with a gentle wristslap and a thorough coverup.
And of course this exposes the Federal government and their financerati as utter hypocrites, especially when they are stoking the fires of conflict.
Only the little people are meant to suffer for their country. For the favored few, everything is just another law-bending, money making opportunity.
Some of the wording in this is priceless, especially considering the extent of what the Bank had done and with whom.
I won't be holding my breath for the US regulators to clean up their own manipulated markets and privileged insiders. It might muss someone's ruffled sleeves and Presidential cufflinks.