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Fed Reporter Pedro Da Costa Is Leaving The Wall Street Journal After Asking Yellen "Uncomfortable" Questions
It was virtually inevitable.
As we reported on June 17, Pedro Da Costa, one of the more determined and controversial Fed reporters, was shocked to learn he was no longer welcome to ask Janet Yellen uncomfortable questions, questions related to the biggest scandal currently gripping the Fed: its leaks of proprietary information to "expert network" Medley Global (recently sold by Pearson to Japan's Nikkei) and one which has since morphed into a criminal investigation.
As a reminder, this is the Q&A that got Pedro in hot water with Janet Yellen during the March press conference:
PEDRO DA COSTA. Pedro da Costa with Dow Jones Newswires. I guess I have two follow-ups, one with regard to Craig’s question. So, before the IG’s investigation, according to Republican Congressman Hensarling’s letter to your office, he says that, “It is my understanding that although the Federal Reserve’s General Counsel was initially involved in this investigation, the inquiry was dropped at the request of several members of the FOMC.” Now, that predates the IG. I want to know if you could tell us who are these members of the FOMC who struck down this investigation? And doesn’t not revealing these facts kind of go directly against the sort of transparency and accountability that you’re trying to bring to the central bank?
CHAIR YELLEN. That is an allegation that I don’t believe has any basis in fact. I’m not going to go into the details, but I don’t know where that piece of information could possibly have come from.
PEDRO DA COSTA. If I could follow up on his question. I think when you get asked about financial crimes and the public hears you talk about compliance, you get a sense that there’s not enough enforcement involved in these actions, and that it’s merely a case of kind of trying to achieve settlements after the fact. Is there a sense in the regulatory community that financial crimes need to be punished sort of more forcefully in order for them to be—for there to be an actual deterrent against unethical behavior?
CHAIR YELLEN. So, the—you’re talking about within banking organizations? So, the focus of regulators—the banking regulators—is safety and soundness, and what we want to see is changes made as rapidly as possible that will eliminate practices that are unsafe and unsound.
We can’t—only the Justice Department can bring criminal action, and they have taken up cases where they think that that’s appropriate. In some situations, when we are able to identify individuals who were responsible for misdeeds, we can put in place prohibitions that bar them from participating in banking, and we have done so and will continue to do so.
The difficult question starts at around 45:30 - look at Yellen's face when asked the question for a clue as to her next move.
Shortly aftert this exchange we learned that indeed the Justice Department did launch a criminal probe for leaks at the Fed itself as was disclosed shortly after the above exchange, a probe which may very well implicate anyone, including Janet herself hence her eagerness to avoid any "touchy" questions.
Nonetheless, after "shutting down" Pedro, the result was a "chilling effect" on any actually probing questions, and the same day that Pedro announced he would not be present at the June Fed press conference, not a single other journalist dared to ask anything on the topic. We commented:
... In retrospect, we can understand why. In a world in which the Fed perceives itself as omnipotent, and where anyone even daring to question its motives, its methods or its track record, is a threat to be eradicated or at least barred from all future opportunities for further humiliation and disclosure that the emperor has indeed been naked from day one, at even such token events as a press conference where questioners are generously afforded 60 seconds in which to expose said emperor.
This is what Pedro found out the hard way today, a discovery which also allowed the rest of us to finally comprehend the farcial, hollow facade this country has passing off as its crack "financial journalists" asking "tough questions" all of whom ended up being nothing more than "access scribes", terrified to open their mouths and lose their access, an outcome which incidentally just might force them to do some real reporting for once, instead of sending rhetorical letters to the middle class asking why it keeps being "stingy" instead of spending its hard-earned money, and making the beloved Fed's life so difficult...
The hint in the last paragraph of course was that Pedro had also managed to rub certain of his colleagues and editors, some who are observed with far greater regard by the Fed because of their willingness to only ask preapproved questions.
Sure enough, moments ago all this was confirmed when Pedro just announced that tomorrow would be his last day at the Wall Street Journal.
Friends and colleagues: Tomorrow is my last day at The Wall Street Journal. Thank you for reading and stay tuned for my next adventures.
— Pedro da Costa (@pdacosta) July 30, 2015
And that, in a nutshell, is how the world's "freest press" operates.
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Zionists control the media, and the entertainment industry and the foreign policy of the US Gov, and Wall Street...how much more can they control, and a better question is how much more control can they have while America still survives?
Yet another reason I'm glad I ended my WSJ subscription. If the MSM had balls (and they don't), they would boycott the Fed press conferences.
Trump said it better, who cares?
they got so scared of a "question" brave little banker fucks
Yellen sounds like Sal Rosenberg from the Jerky Boys. Maybe that can be her next stint when she gets booted out of the33 Degrees Liberty building
I'd love to throw a tab or two of LSD and a pinch of PCP in Yellen's lunch before she gives a pronouncement...
Michael Hastings
You'll do fine in landing another gig. We call your former employer, Wallstreet Urinal.
It is now officially - the Whore Strip Journal
“That men do not learn very much from the lessons of history is the most important of all the lessons that history has to teach.”
? Aldous Huxley
The most distressing thing that can happen to a prophet is to be proved wrong. The next most distressing thing is to be proved right.
Aldous Huxley
Sometimes reporters suffer the same calamity!
Pre-approved questions? Wow ... but I'm not interested in pre-approved answers. I want the real answers!
Wallstreet Journal is pushing digital subscription. The motto is to give you half of storyline, ask to sign-in or subscribe. I goto another source to get the full story. Financial Times is the same way. Fuck off on your digital newspaper.
But you subscribe to "IntelCenter: Terrorism Threat Intel Packages"?
No. I just have a good memory from 2006. Building staged backdrops. Do you remember this CNN hit? Charles Jaco.
CNN Fake Iraq War Newscast Footage - YouTube
Janet Yellen... next time just throw a pail of water on her, and watch the flying monkeys scatter
According to the Obama prophecies he is going to be assassinated at the same time the economy collapses.... very sobering warnings of what is ahead for America!
http://revelation12.ca
i have some dual pane windows at my house and i get the same thing. i mean it must be true therefore
I'm not following the link, but if any of that stuff is true you know who they'll hold accountable!
It will be Fergueson/Baltimore writ large.
According to the Obama prophecies he is going to be assassinated at the same time the economy collapses.... very sobering warnings of what is ahead for America!
http://revelation12.ca
you do not insult great liar Yellen!
I expected Yellen's retort to be something like this: "So...what you're actually looking for is for me or one of my henchman to bust a cap in your ass. Is that correct?"
i like this guy.
he will be fine w/o WSJ employment...
She always reminds me of a mushroom
She looks like Chet. All her ghetto rats look like Chet to me.
the only one, who can be given uncomfortable questions are non-jews, BUT HOW DARE YOU QUESTION A JEW IN CHARGE
know your place
CAREER END
Sickening bunch of fascists.
WS Journal hates Hispanics.
You wont read about this racism in the WS Journal.
Are people dissatisfied with our Pillsbury Dough Grandma FOMC Chair?
News to me.
You can listen to 45 minutes of that Yentas double talk? I would rather be waterboarded.
this guy is going to follow others, Tiabbi, Greenwald. the answer to his question is "Executive Privilege"
People need to wake up to the Fed and ALL the centuries and centuries of evil they bring to the table.
All bad, bumpy and destructive, war-driven roads lead back to The Fed, period.
http://www.theliberist.com
is this guy a dreamer?
jewish frontend of jewish bank cannot be asked such questions.
this funny guy, who worked for a jewish newspaper has to know it.
comply or be eradicated! Stupid sheeple. TIME FOR THE GUILLOTINE PEOPLE?
If they gotta lie, I'd much rather have Bernanke lie to me than this ugly bitch. It's just a matter of taste.
Wonder where this lies on the Holder . . .er, Lynch Prosecutorial Discretion Funmeter.
Prolly not very high. No race angle, no sex angle. No fun.
"And that, in a nutshell, is how the world's "freest press" operates."
True. Although this incident has received wider publicity than most, as I recall there have been a number of American journos in the past who have lost their accreditation to attend official political briefings at the WH or other organs of .gov for asking difficult questions.
Similar thing happens in the UK. Their editors get a call from {whoever} and are informed that John Doe has had his entry permit revoked. After this, the journo will never get any off-the-record briefings, never get any exclusive interviews. There isn't much left for him to do but quit.
The lies and propaganda must continue.
Pedro should put a nice little book together fast. Call it a work of fiction.
"There is no such thing, at this date of the world's history, in America, as an independent press. You know it and I know it. There is not one of you who dares to write your honest opinions, and if you did, you know beforehand that it would never appear in print. I am paid weekly for keeping my honest opinion out of the paper I am connected with. Others of you are paid similar salaries for similar things, and any of you who would be so foolish as to write honest opinions would be out on the streets looking for another job. If I allowed my honest opinions to appear in one issue of my paper, before twenty-four hours my occupation would be gone. The business of the journalists is to destroy the truth; to lie outright; to pervert; to vilify; to fawn at the feet of mammon, and to sell his country and his race for his daily bread. You know it and I know it and what folly is this toasting an independent press? We are the tools and vassals of rich men behind the scenes. We are the jumping jacks, they pull the strings and we dance. Our talents, our possibilities and our lives are all the property of other men. We are intellectual prostitutes." - John Swinton, former Chief of Staff, The New York Times.
I remember seeing an old video of Saddam Hussein at the head of a crowd of his lackeys. He would call a name, that person was called forward, taken out back, and shot. You could see the nervous faces of the lackeys az they praised Saddam and displayed their approval of the traitors demise. Then the next name, and the next name......
The journalists in this post are just trying not to be that next name...
Hey, De Costa should count himself lucky that he didn't commit suicide.
pedro has been unchosen.
At the end of the press conference, Yellen handed a small group of compliant scribes a a diploma, a heart-shaped clock, and a triple cross. Congratulations, from the ruler of the Emerald City!
Every bureaucrat in U.S. government now knows they can do anything to anybody and get away with it because the trillion-dollar tax-funded bureaucracy has grown into a power unto itself. Whatever the bureaucrats want they get and the professional politicians are o.k. with that. If they decide to take your life, your fortune and your sacred honor, they'll get it. The professional politicians of Uniparty and the bureaucrats who do their bidding are the worst people in the world.
Every move "Just Us" makes these days appears to just feed the fire.
Insane. Almost as if they want to destroy themselves. Perhaps each head of the hydra believes the other’s lies - i.e. MSM numbers inferring influence over the sheeple, goalposts moved to ensure every act declared a success, always patting each other on the back, etc…
Their last words may be “None of us could have seen this coming”… LOL
This guy has not come out and said he was fired or pushed so his departure is just conjecture and speculation.
It could very well be true, it certainly is coincidental.
But this isn't rumour control Tyler's we need some proof! or we deserve to wear those conspiracy theory nutcase hats.
Maybe he has something else lined up and he's leaving of his own accord because his employer did not back him. It's possible that the Wall Street Journal, without the courage to support Pedro, did not have the courage to fire him...because if I were Pedro, and being fired, I would blow the story (and with it the WSJ) all over the country. Somebody would print the book or the story. Because it would be a terrific story.
How do you know that he won't? Probably just looking for some backing... and then as a hedge, Snowden's address.
I'll replace Da Costa unconfortable questions and only ask her why she ain't been goin up my FAFSA like she used to.
Some else probably posted this:
"Despite billions of pounds in fines, several years of investigations and a slew of criminal prosecutions, many banks have yet to take on board the lesson of the market-rigging scandals, a report by the City watchdog has found.
In a series of damning findings, the Financial Conduct Authority said that some lenders had yet to take even basic steps towards ensuring there could be no repeat of the Libor, foreign exchange and gold price manipulation scandals"
- Gold Manipulation Scandals says the Financial Conduct Authority
http://www.thetimes.co.uk/tto/business/industries/banking/article4512251...
Clearly a cultural conflict between a guy named Pedro de Costa and the owners of the Fed and the WS Journal.
My guess is that Pedro has a good lawsuit for racial discrimination. He was clearly doing his job in a very responsible manner.
Then again, is there a lawyer in NY that would take his case?
The FED works for the banks. The goal of the banks, like all businesses is to make as much money as possible. As we have repeatedly seen since the 2008 financial crash, when things go south, US taxpayers are there to cover any losses. So in effect, FED policy is to privatize bank profits and socialize their losses. Janet Yellen is a loyal representative of large banks.
Access to what?
Fiction? Obfuscation never ending?
Speaking of fiction. In the 90's there was a big stink here when the public library was introducing new children's books. "Dick, Jane, Puff & Spot Have Two Mommies."
Alexandria revisted.
It was called to my attention the technical manuals/books have been systematically removed.
Another Hollyweird preview of library access for the chosen in "The Giver." Should have been the taker.
Wicked how they operate!
Yellen speaks like a 1/2 retard. Her words are formed so slowly in her mouth that I think she is verbalizing thoughts she had 5 minutes ago.
That's what happens in the journalism world. When you do the right thing and make a name for yourself the thing to do is to leave the rag you work for (NY Times) and move on to real journalism.
Internment Camp for Mr. Da Costa, next!
Yellen's been exposed as a $20 Whore. Probably i'm insulting $20 Whores.
END THE FED.
The Feds: You either play ball or get the fuck out. Goodbye.
"CHAIR YELLEN. So, the—you’re talking about within banking organizations? So, the focus of regulators—the banking regulators—is safety and soundness, and what we want to see is changes made as rapidly as possible that will eliminate practices that are unsafe and unsound."
Rapidly as possible doesn't take much time at all. Practices that are unsafe and unsound could have been eliminated years ago, already.
This is so rotten that I can smell the sulfur from this side of my monitor.
I hope Pedro get's a journalism award and a great job, maybe at the Intercept??, where he can ply his trade with a free hand.
NYTimes Newsroom:
"Time for Talmud Study! Everyone inmto the big office now!
The tame and compliant financial press who sat on their arses whilst the financial crisis took hold, have not gone away you know!
You affronted The Tribe.
You must Resign.
Thou shall not ask tough questions of Zion grifting banksters, and also put one's Zionist mouthpiece in jeopardy.
Liberty is a demand. Tyranny is submission..
"We tell you the truth, you are not permitted to ask us about the truth."
Well Pedro Da Costa got off better than Dinesh D'Souza with his film
Nazi ideology rising under putin regime - people supporting Ukraine are being attacked:
https://youtu.be/DM2I0gXg3tE
This is what criminal putin regime hate propaganda has done to people minds - it has posoned it with hate and aggresion.
Poroshenko propaganda.
Law and order is only for the serfs. Everyone else is above the law.
Doubleplus Good!
Oligarchy/Plutocracy 2016 2+2=5.
Pedro? Is he an illegal alien? Can he be deported now?
An undisclosed parachute?
Vote For Pedro!
He deserves the Helen Thomas Award for bravery.
http://www.youtube.com/watch?v=wO7A5Q332lo
___
p.s. Another day, another anniversary of an Israeli atrocity that resulted in no sanctions and billions in cash and weapons from Uncle Sugar courtesy of the ZOG
https://en.m.wikipedia.org/wiki/Qana_airstrike
Weren't you the guy who just took another poster to task for hijacking threads away from the intended topic and pursuing his own-- regardless of whether it was germane to the issue or not?
But it's okay if you do it in pursuit of a cause you hold dear even if someone else is to be excoriated for doing the exact same thing for a cause you do not hold dear.
Clearly, you are a single issue sort of guy yourself, since everything you post seems to hearken back to this one topic of "Da Evil Jewskis" and how Utopia would immediately dawn if you and your friends were free to wipe them out root and branch and run everything yourselves.
Meet the new Boss... Right?
H/T
yes, ther'es no relation at all between helen thomas asking about israeli nukes - and being dismissed from the WH press corp after decades the next day - and this guy asking the 3rd jew in a row to run the fed 'awkward questions' and soon after being invited to leave an establishment/Zionist rag.
No relation - so I can see why you jumped in.
AAAAAnd... criticism of israeli war crimes and disproportionate jewish power is hitler hitler nazi nazi blah blah blah
zzzzzzz
In other words - newsoutlet's trolling and posting anti-Putin copy paste jobs on articles having nothing to do with it is the same as equating this guy to Helen Thomas.
Got it.
Israel and Judaism and Jews are above criticism from we mere goys, is that it?
You and your attempts at gatekeeping and wag the nazi can fuck right off.
This is how things work in a democracy.
This is how things work in an overthrown democracy.
A Wall Street reporter is blackballed for asking an intelligent question is the epitome of denial by fascist criminal cronies. Yellen and her husband should be behind bars.
The battle between good and evil has been going on before written history. Do not mistake “evil” criminal cunning, and their criminal tools, to be superior to honest truth and “good” real deductive intelligence.
The Age of Enlightenment of democratic republics that began with the American Constitution is descending into the Age of Totalitarian Fascist Tyranny. Such barbarism back into the past will not be accepted by the rest of the world even though Americans are brainwashed stupid with propaganda and are helpless in controlling the criminals and their cultivated crony criminals in government.
The struggle between good and evil will continue. Will the fascist criminals in society rule? They do now, including the fascist Supreme Court, but for how much longer can they rule? Will the planned economic crash be the end of the criminals rule or will it be the final world takeover? Returning to a gold back currency will kill the bankster criminals.
Our “good” American Constitution is still intact even though it has been temporarily overthrown.
Wouldn’t it be grand if the 21st Century ended up as the Age of World Peace and Prosperity and the criminals to society are safely in prison?
Lesson: goyim are not allowed to confront the talmudic overlords.
"It was the NYTs itself that described the 19th Century as the Century of the Rothschild's.
"This was a true statement. Before the East India Company we sent our ships to inventory the World.
There is a clique at the top of banking and finance which has existed for over two hundred years. We are almost ready to pull the Noose.
There will be 1 World with us invisible, behind the Crest. This has been planned for over 200 years.
Tread lightly.
Managing editor of Rolling Stone steps down
http://www.nytimes.com/2015/07/30/business/media/will-dana-rolling-stone...
Will Dana, the managing editor of Rolling Stone, will leave the magazine, just months after a controversial article about a supposed gang rape at the University of Virginia was retracted.
Continue reading the main story
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Mr. Dana, whose planned last day is Aug. 7, is not leaving for another job, and his successor has not been named. When asked if the departure was linked to the controversy over the discredited article, Rolling Stone’s publisher, Jann S. Wenner, said, via a spokeswoman, that “many factors go into a decision like this.”
As long term subscriber, I can categoically say he the WSJ is NYT lite in all but the editorial page. And, the level of reporting is lower than ever. So all the worry about Murdock was lame.
Did he jump or was he pushed? (Richard Thompson)
Is Zero Hedge hiring?
Very easy to tell that woman is way in over her head in lies and bullshit. I would bet that her anxiety levels are off the charts and she takes serious medicine for bowel control.
Totally, absolutely totally incredible that this person, and her jolly band of banksters are in charge of our future....
The WSJ (Con Street Journal) reporters like Hilsenrath are all grossly overpaid whores. All they do is regurgitate Federal government propaganda! Chimpanzees could do that while literally working for bananas!
There is something really fishy inside the federal reserve, a complete audit is absolutely ncecessary.
Let's just end the Fed and let the historians do an audit as they record the Feds part in the destruction of the American economy.
I simply cannot stand the sound of her voice, nor accept the extent of the knowledge she dmeonstrates. Pathetic.