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Bill Dudley Responds To Charges NY Fed Is Controlled By Goldman Sachs: "Nobody Should Question Our Motives "
Carmen Segarra's second (and this time almost certainly last) 15 minutes of fame, and 47.5 hours of humiliating "secret Goldman Sachs" recordings proving the NY Fed is merely yet another tentacle of Goldman Sachs, have come and gone, and nobody cares. At least nobody in Congress. Oh yes, Elizabeth Warren will hold her traditional kangaroo circus in which she will complain, enunciate every syllable in that patented "stern teacher" way of hers, feign anger, and ... nothing will change.
But in the meantime, someone still remembered that the trading desk of the world's biggest hedge fund is merely a branch office of Goldman Sachs as we revealed in 2010 (and there are those who wonder why unlike JPM, BofA and Wells, Goldman has "no balance sheet"), and asked the head of the NY Fed, Bill Dudley whether there is any truth in Segarra's latest revelations, which one does not need an interpreter to comprehend: just listening to the public tapes is enough). This is what Dudley said:
“I completely stand behind the integrity and work of our supervision staff,” he said after a speech today in New York. “They are operating completely in the public interest.”
Dudley said there has been a “significant reorganization” following a report commissioned by the regional Fed bank, and that “improving supervision has been and remains an ongoing priority for me.”
“I don’t think anyone should question our motives and what we are trying to accomplish,” Dudley said today in defense of his institution. “Examiner independence is completely paramount.”
Oh, we forgot to mention one thing: "Prior to joining the Bank in 2007, Mr. Dudley was a partner and managing director at Goldman, Sachs & Company and was the firm's chief U.S. economist for a decade."
Don't worry Bill: absolutely nobody is questioning your motives.
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Gods work?
More like lying sack of shit.
http://www.safehaven.com/article/35298/do-jpm-and-citi-control-the-ny-fed-and-us-monetary-policy
Hey Bill, you got a little something on your chin.
pods
Oh, well since he said so, I believe him.
If there was nothing untoward going on they wouldn't mind being questioned.
"If there was nothing untoward going on they wouldn't mind being questioned. "
...on the waterboard, pumped full of sodium pentathol; -by ME.
"...or else" what Bill?
We, the little people, are getting tired of being threatened by the likes of you.
/My time.
//It is coming.
60 min interview and secret recordings of Ms. Segarra prove Mr Dudley is full of shit.
http://www.thisamericanlife.org/radio-archives/episode/536/the-secret-recordings-of-carmen-segarra
Quite telling is when Mike Silva pulls Ms. Segarra into his office begging her to not say Goldman had no conflict of interest policy - to the point of bringing her to tears.
+1000 Stackers. Anyone who hasn't listened yet really ought to. It is a brilliant program and an extremely effective reminder of why you do not want to work for corporate/gov't. USA - but that doesn't mean you should take your eyes off of what they're up to.
I was once asked at a job interview in NYC: "What motivates you in a corporate environment?" and without hesitating I replied "The paycheck."
Needless to say I didn't get the job...
These fuckers want your soul.
That wasn't the question, Bill- we KNOW what your motives are- tell us the truth about GS running the NYF.......
I get a reminder of why I wouldn't want to work for the government every time I go to the DMV.
Is anyone actually surprised at the hubris of these people??
Until people are held accountable in accordance with the law, absolutely nothing will ever change because these scumbags are above the law the way it's enforced right now.
if anything they do causes trouble for them legally, these are the people who are in the position simply to rewrite the law. When ethics become separated from law, you get our current situation. We're beyond "legal" solutions.
"Until people are held accountable in accordance with the law, absolutely nothing will ever change because these scumbags are above the law the way it's enforced right now."
Which will be never with the current national backbone -- being diluted by the second with open borders, PC, multiple crisis ad nauseum.......... TASK SATURATION
They'll still assert they're the chosen ones that can do no wrong, even as the hangman pulls the lever.
I'm convinced more and more that this isn't some act, but an elite-level expresion of the same types of delusional mental illnesses we see in the chronic homeless. Hanging out at either extreme of the economic sprectrum seems to fuck with people's heads.
"Until people are held accountable in accordance with the law, absolutely nothing will ever change because these scumbags are above the law the way it's enforced right now."
Sorry to tell you 'rcintc' but these motherfuckers write their own laws; many many unbelievably well-paid law graduates are writing the laws while employed by these banksters. There is an army of well dressed, well mannered, well paid law graduates working for Goldman Sachs.
He better not question the motives of the homeless bum on the street who will whack him with a bat either
What a fucking liar!
Mandy Rice-Davies put it so succinctly:
"Well he would, wouldn't he?"
The Profumo scandal
https://www.youtube.com/watch?v=ch7TXRMRaqM
-
He should go do God's work for the Liberian central bank.
The "Partys" work. Bill has given us all a splendid example of "double speak"and "double think", where he is able to tell a complete lie with complete sincerity, while knowing that the opposite is fact. Try it yourself some time. It takes real self control. This strange malady seems to have infected everyone that has had anything to do with GS. Perhaps voluntary pyhciatric examinations would help these unfortunates. Or compulsory ones?Hmmm...... just saying.
But ripping the faces off the muppets IS god's work. Such a thankless task...
Is Dudly Jewish like the majority of evil scum that run the Federal Reserve?
How did Jews ever get so much power in this country?
Cocksucker.
Heh, heh, heh... Snort...
Now why do I have the urge to punch that fukker in the face?
'Don't worry Bill: absolutely nobody is questioning your motives'
perfectly put
Resign, a$$hole. You should be in jail.
Not much of an allocution Mr. Dudley...
No questioning bitchez!
Well that settles that, then.
Lawyer's trick. He never denied it because that would make him a liar. He avoided the question.
Dyed-in-the-wool Squid-speak
Go Fuck yourself billy
All he said was that he didn't think that anybody SHOULD question their motives, he didn't provide very much elaboration on why. Eg he might have meant 'nobody should question our motives, because it makes us look stupid, and co-opted, which we don't care for'.
repeat after me everyone...
DEATH TO THE MONEYCHANGERS...
that and refusing to save in and hold their worthless script is your only salvation....
I love a good word-parse exercise. Well done.
“I don’t think anyone should question our motives and what we are trying to accomplish,”
You gotta admit, all the conspiracy books about the Fed pale in comparison to what comes right from the horses mouth.
But Mr. Dudley we DO question both your motives and your methods.
The complete arrogance! Unbelievable and just a day or two after Cantor's: smart people know that elitists have to be in charge (or words to that effect).
'Honi soit qui mal y pense"
The Ruling Family of England motto on the shield.
Translated
(Shame on those that think bad of us)
....that Colonial master thing is hard to shuck when Bill Dudley's paycheck depends on serfs.
This man should not be seen as a the lying corrupt criminal he is.
He should be entered into the Websters dictionary as the true definition of an Asshole.
i cant even remember if i used to believe these guys
unholy spawn of the vampire squid
Just wait for that group of Liberian tourists riding the "hop-on hop-off" buses around Lower Manhattan and Wall Street...
Wow!
He's brilliant.
He managed to tell the actual unbridled truth while seemingly indicating the exact opposite of what he actually said.
"“I completely stand behind the integrity and work of our supervision staff,” he said after a speech today in New York. “They are operating completely in the public interest.”
*But according to the tapes, he thinks GS interests ARE the public interest.*
Dudley said there has been a “significant reorganization” following a report commissioned by the regional Fed bank, and that “improving supervision has been and remains an ongoing priority for me.”
*TRUE. Goldman Sach's supervision of the Fed ACTUALLY HAS been an ongoing priority for him.*
“I don’t think anyone should question our motives and what we are trying to accomplish,” Dudley said today in defense of his institution. “Examiner independence is completely paramount.”
* I am certain that he truly doesn't think anyone should question his motives or what he is trying to accomplish. - Because we stupid proles deserve it, you see.*
It raises the interesting question. How do you balance the following concepts if they are in conflict with one another from time to time:
(1) the public interest;
(2) fair and efficient markets (ie. non-manipulated markets);
(3) protection of the investing public.
If the Fed is of the view that it is in the "public interest" to ensure at all costs that banks do not go bankrupt and the financial system remaing stable, then it is possible that view is consistent with having 100% manipulated markets to prop up certain asset prices, depressing the prices of other assets and fucking over investors by misallocating risk and investment.
So I'm not prepared to accept his response until he explains exactly what in his view constitutes "the public interest". In my mind, there is an intrinsic value to freedom and liberty and allowing people and systems to fuck up, go bankrupt, improve, boom and bust. And there is an instrinsic value in accomplishing something for oneself even if that means a little (or a lot) of pain from time to time.
So, what the Fed's view of "the public interest". Is it equivalent to the interests of the Fed and its members above all else. Inquiring minds want to know.
Note that Senator Pocahontas has felt free to go after Wall Street... but has never dared utter an unkind or critical word about Israel, even though evidence of deliberat,e unequivocal war crimes in the recent assault on Gaza is abundant.
There is no ZOG.
yeah, junkers - the fact she obviously betrayed her ideals doesn't say a thing about the power of the Jewish Lobby or anything.
Go fuck yourselves.
YOU LIE!
As a reminder.
https://en.wikipedia.org/wiki/William_C._Dudley
CareerDudley worked at Goldman Sachs from 1986 to 2007, holding the position of chief economist for ten years before he was hired by then-president of the New York Federal Reserve Timothy Geithner to oversee the department in charge of buying and selling government securities.
...
http://www.newyorkfed.org/aboutthefed/orgchart/dudley.html
...
Prior to joining the Bank in 2007, Mr. Dudley was a partner and managing director at Goldman, Sachs & Company and was the firm's chief U.S. economist for a decade. Prior to joining Goldman Sachs in 1986, he was a vice president at the former Morgan Guaranty Trust Company. Mr. Dudley was an economist at the Federal Reserve Board from 1981 to 1983.
...
Shut your mouth and open the books, Bill Dudley.
I always like to give someone the benefit of the doubt when they say just trust me
As long as they literally put their entire families life, liberty and pursuit of happiness and all personal assets on the line at the same time
When anyone says "trust me", get a tight grip on your wallet.
no one gives a shit what you say dudley - you're just another reprobate bankster
Which is exactly why he feels free to utter whatever nonsense pops into his head.
I recognize your sarcasm; but, unfortunately, it’s also all that will ever happen: nothing.
Nothing, that is, until a few Americans (1%-2%) learn lessons of American Founders, and use such lessons.
You see, Americans have the power to stop it, and make accountable all who perpetrated this, or any other, evil; and they (Americans) refuse to use that power. There are three main reasons for this failure: one is that they have no knowledge of such power; the second, they’ve been herded into a kind of impotent stupor by medication and indoctrination; the third, that they aid, benefit or were complicit in such evil (full article).
In addition, there is hardly an American who knows ideals won by the Revolution.
For example, Founders repeatedly declared the co-called right of consent: that no man was obligated to obey any law or pay any tax unless he gave his personal consent to such. Did they really mean that? Of course they did. They had been living by those rules from the first English settlement to the Revolution. That is, according to the origin of English/American law, “laws” and “taxes” originated in contracts between various assemblies and those who petitioned for redress of grievances. Terms of such contracts were sometimes referred to as “laws” and money payments as “taxes”. And, no one but petitioners were obligated to obey or pay such “laws” or “taxes”; that is, all non-petitioners were exempt from such. Further, when redress was completed, such “laws” and ‘taxes” were extinguished.
When you realize the significance of this right of consent, you will discovery that there is hardly a constitutional tax on the books.
Today we no longer live according to American law: for, petitioners make themselves exempt from laws and taxes necessitated by their redress while all non-petitioners are saddled with such burdens. For example, when munitions makers, big banks, and Main Stream Media wish for another war, they petition Congress, Congress grants authority for the war, petitioners receive the booty of war and non-petitioners are stiffed with the expenses (thru payment of taxes and the blood and ruined lives of their male children). This inversion of American law is generally known as Persian law, law of the conqueror, law of the high seas, mouth law, martial law, ecclesiastical law… it goes by many names.
And it will continue unopposed until a few Americans…
Now, why should you give my words any consideration (?)… because I come with the highest validation possible… a classic inquisition perpetrated against me by the Department of Justice and IRS. It consisted of no witnesses, no victims, no evidence, no discovery, no examination of non-evidence; no jury, no trial… just a summary judgment for a crime that never happened. These inquisitors, you see, were so threatened by my findings, they couldn’t allow me to use a courtroom as a public forum. In addition, they seized all my resources in the midst of this charade; fabricated an astronomical and ridiculous tax liability and have monitored my electronic communications for 10+ years.
I mean, who else can match my credentials?
Similar to Israel warning Syria not to retaliate when they bomb them
Until the someone threatens the petrodollar. What is the acronym of BRIC? I forgot.
/ sarc
I'm not suspicious of anyone who was a managing partner at Goldman Sachs but then left all that money to be a Fed employee.
To Gold Man Slacks a "conflict of interest" is when the genius "heads I win, tails you lose" business plan is jeopardized in any way. "Non-disclosure agreements" mean you never need fear nail guns or starting your car.
"Resignation" is usually expressed in the form of "toe tags".
Because, in the State of Denial, you have to lie when it really counts, even when everyone including your seven year old nephew knows you're lying, and they know you know they know.
Billions in settlements applied toward .gov (and shadow) payroll
Billions in settlements applied toward stealth bond purchases
The regulators are doing exactly what they were hired by the Banksters to do.
So Dudley is a trained liar and fraud ...
Maybe he should clearly explain which motives it is that we should not question. Also, why we should not question rescuing the banks and sacrificing the people.
The people can survive without banks. Banks cannot survive without people.
"We're not owed or controlled by the Rothschild banksters, but please ignore their hands stuck up my ass and working my mouth." Bill "dual-citizen" Dudley*
A non "return" able American, not US or Rothschild subject.
"Guillotine the Fed!"
“I completely stand behind the integrity and work of our supervision staff,” he said after a speech today in New York. “They are operating completely in the public interest.”
Total garbage, Dudley.
I don't think the new York fed is totally controlled by GS - I think the Fed still gets to plan their own hannakah parties -decide who caters, what liquor to serve, what escort services to retain. I think they get to hire their secretaries, select appropriate janitor services, decide what office furniture and interior decorating issues -the list goes on and on. So it's really misleading and dishonest to say Goldman controls the fed. Thanks Bill for standing up and defending the honor of the Fed.
Who do you think owns the Federal reserve, a consortium of private banks
"Blah blah blah... integrity and work... blah blah blah... public interest... blah blah blah... ongoing priority... blah blah blah".
This dude wouldn't know integrity and public interest if they hit him in the nose, and his only "ongoing priority" is to his wallet.
Who the f... does he think he's fooling?
i'm fairly certain the whole "don't quesrion my motives" thing is universal policy with murderers and thieves.
Does anyone think that others should question their motives?
Sounds like a line out of the sociopath handbook
Only professional liars and hypocrites have jobs like Dudley's. The astonishing thing is how Centuries of backing up lies with violence resulted in systems where making "money" out of nothing as debts is an enforced fraud which the vast majority of people are deliberately ignoring, and do not want to understand!
http://www.doomsteaddiner.net/blog/2014/10/01/fed-gate-pimpco-oil-prices/
Fed Gate, PIMPCO & Oil Prices
A good rant recording, especially in the first few minutes, although the practical point of this story about Goldman Sachs blatantly getting away with capturing control of the government regulators is that goes SO DEEP that the fundamental structure of the system is almost inconceivably crazy and corrupt. Privately controlled banks being able to make the public money supply out of nothing as debts IS AN ASTOUNDING ACHIEVEMENT OF ORGANIZED CRIME CONTROLLING GOVERNMENTS, WHICH WAS BUILT ON TOP OF THE HISTORY OF WARFARE, AS THE SOURCE OF THE ACCUMULATION OF THAT KIND OF POWER.
The profound paradoxes are that since the established systems are actually based on the principles and methods of organized crime, there is actually nothing outside of that which could change it. Therefore, the only possible ways to change things require better organized crime. As long as the few that understand these kinds of problems continue to rely upon impossible ideals, and false fundamental dichotomies, as the bogus "solutions" to these problems, then they can only get worse, faster, and become even more UNBALANCED ...
It is obvious common sense that private banks making "money" out of nothing as debts is fraud enforced by governments. However, since that has been done for generation after generation, through the ways that legalized lies CAN be backed up with legalized violence, everyone has adapted to survive inside of that system, and so, that system as a whole is runaway criminal insanity, which is based on bullshit spouted by guys like Dudley being able to deliberately ignore the basic laws of nature. THE ONLY WAY TO UNDERSTAND PUBLIC MONEY AS DEBT BEING MADE OUT OF NOTHING BY PRIVATE BANKS IS AS THE SUPREME ACHIEVEMENT OF ORGANIZED CRIME, TO LEGALIZE THAT COUNTERFEITING. However, the few that do partially understand that then tend to collapse back to bullshit "solutions" which continue to ignore how and why money is measurement backed by murder, because the debt controls are backed by the death controls. The essential problem with the established, entrenched systems is that they provide the theoretically necessary debt controls through the maximum possible frauds, backed by death controls through the maximum possible deceits. Meanwhile, the controlled opposition is continues to promote impossible ideals that there ought not be any such combined money/murder systems.
"Zero Hedge is intended for Mature Audiences." However, the overwhelming vast majority of people are childish, and want to stay that way. The FACT that Dudley can say state such things as are presented in this article above demonstrates the degree to which generation after generation of ENFORCED FRAUDS, whereby lies were backed by violence, have created a civilization which displays runaway criminal insanities, because it is almost totally controlled by HUGE LIES, which are able to deliberately ignore the most basic laws of nature, while pretending that fundamentally fraudulent financial accounting systems are acceptable.
However, more radical truths about that is NOT a return to promoting impossible ideals regarding what the "solutions" to that situation should be. Tragically, we are on the path towards the runaway debt insanities provoking runaway death insanities, because the established systems deliberately refuse to admit the basic facts that money is necessarily measurement backed by murder. No saner resolutions to these problems are possible, as long as the banksters' bullshit dominates the established systems, including the significant controlled opposition groups.
The only things which exist are the dynamic equilibria between different systems of organized lies operating robberies. Since the vast majority of people do not want to understand that, and the controlled opposition attempts to persuade people that should not be the actual foundation of human affairs, there are never any realistic solutions to these problems, while the consequences of that paradoxical criminal insanity automatically get worse, faster!
The deeper paradox behind the successes of the monetary systems being based on enforced frauds, run by professional liars and hypocrites, was the success of warfare based on backing up deceits with destruction. The superficial level of that social insanity is the way that making "money" out of nothing as debts is based on deliberate ignorance towards the basic laws of nature, which only works because that deliberate ignorance is effectively backed up by violence. However, the deeper levels of that social insanity are that the long history of civilizations operating through absurd State Religions has enabled the controlled opposition groups to get away with even more absurd theories that there does not have to be any natural selection pressures, which human beings MUST channel through some artificial selection systems.
The sublime ironies regarding the paradoxical ways that the established systems (including their controlled opposition) work are that THEY ARE BASED ON THE MAXIMUM POSSIBLE FRAUDS AND DECEITS, including the maximum possible frauds and deceits regarding how and why they must necessarily exist. The paradoxical ways that military success was based on skillfully backing up deceits with destruction has segued or morphed into the financial systems skillfully backing up frauds with force.
However, those deceits and frauds have become so totally triumphant that there is hardly any genuine opposition, which could provide better systems of legalized lies, backed by legalized violence, because both the established systems, and their controlled opposition, were based on being able to lie about everything so much, for so long, that the basic issues regarding the natural world, and natural selection, are utterly buried under bullshit, so that the current systems of cultural artificial selection are not merely profoundly fraudulent, but also, almost all of the publicly significant criticisms of that are similarly fraudulent, because the basic realities of natural selection are denied and disregarded.
Instead of human systems of artificial selection being based upon scientific study of the forces of natural selection, the socio/political triumphs of operating death controls through the maximum possible deceits, and debt controls through the maximum possible frauds, have created a civilization based on the maximum possible criminal insanity, which is psychotically detached from the real world, and the basic laws of nature, to the degree to which it was possible for systems based on backing up legalized lies with legalized violence to be successfully able to create the cultural conditions wherein that kind of wide-spread criminal insanity could continue to develop, as enforced frauds, which were able to pretend that they were not fraudulent, especially since the controlled opposition to those systems continued to promote bogus "solutions" which stayed with that frame of reference, or being able to pretend that economics could be understood in ways which were divorced from ecology.
At this point, I doubt that ANYONE on earth believes GoldmanShafts is anything but a pit of predatory vipers on steroids. Which just goes to show... what people think today doesn't matter one tiny bit. The predators are in complete control, and they know it.
Can someone help me on this?
I thought the FED had a 100 year contract,that would expire this year?
No discussion here or anywhere.Strange...
AG Holder resigns. Pretty odd....
Uncle Elroy!!!
There are patriots in the US that would love isis to chop his head off. They are dispicable criminals. Ala salaam alachem.
i don't get it, what difference does it make, they've been partners since 1913, same owners.
only in govt. could you have this sort of outragous conflict of interest, and it's cost americans untold trillions.
If LLoyd Blankfein is "doing God's work...", the N.Y. Fed must be Mary Magdalen! Holy moley!
Hey Bill - go fuck yourself. Nobody should question your motives, huh, you criminal? How dare you suggest such a thing? That's been the problem in this country for 100 years that nobody has questioned your motives. Your a fraud, a phony, a coward, a liar and a total bullshiter. You've haven't contributed one meaningful thing in your life. You've never earned legit money. Oh, that's right, me neither because its fake fiat scrip. Fuck you!
"nobody should question our motives" ...?????
I poop on you ! I'm squishing your head !
THAT'S EXACTLY THE MENTALITY THAT GOT US TO WHERE WE ARE IN THE FIRST PLACE DUDLEY.
Why aren't these people tried for treason???
He should be gang sodomized by Glenn Hubbard and Frederic Mishkin.
In 2006 Mishkin co-authored a report called Financial Stability in Iceland.[3] The report maintained that Iceland's economic fundamentals were strong. The report was commissioned by the Icelandic Chamber of Commerce in response to critical coverage of the Icelandic economy and certain Icelandic companies in the international business media.[2] Mishkin was paid $124,000 to co-author the report.[4] Two and a half years later, Iceland experienced a spectacular financial collapse. According to the documentary film Inside Job, the title of the report was changed to Financial Instability in Iceland on Mishkin's curriculum vitae (CV). Mishkin's CV was later corrected to list the report with its original title.[5] Mishkin wrote a note published on October 6, 2010 at the Financial Times' blog [6] explaining his participation in the documentary Inside Job. The director of Inside Job, Charles Ferguson, responded to Mishkin's note at the same blog.[7]
Let the hangings begin
HAHAHAHA
Just like Tiny Tim Geither / TurboTax Timmy and HIS stay at NYFED followed by his massive bailout to all his buddies?