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Meet The New York Fed's Latest Director: The Ex-CEO Of Another Bailed Out Bank
The Federal Reserve was supposed to serve the nation, however as even Bloomberg observes today, ended up "steamrolling" Main Street. One reason why: directors such as this one.
Presenting former Morgan Stanley CEO, James Gorman, whose former employer got a $107 billion loan from the Federal Reserve to avoid implosion:
The Federal Reserve Bank of New York announced that James P. Gorman, chairman and chief executive officer of Morgan Stanley, has been elected a Class A director representing Group 1, which consists of member banks with capital and surplus of more than $1 billion. Mr. Gorman will serve a three-year term beginning January 1, 2016.
Mr. Gorman has been chief executive officer of Morgan Stanley since January 2010, and chairman since January 2012. Previously, he was co-president of the firm, which he joined in February 2006.
Before joining Morgan Stanley, Mr. Gorman held a succession of executive positions at Merrill Lynch. Prior to this he was a senior partner of McKinsey & Co. and began his career as an attorney in Melbourne, Australia.
Mr. Gorman serves as a member of the Federal Advisory Council to the Federal Reserve Board of Governors and as co-chairman of the Partnership for New York City. He is also a member of the Board of Overseers of the Columbia Business School, the Board of the Institute of International Finance, the Monetary Authority of Singapore International Advisory Panel, the Council on Foreign Relations, and the Economic Club of New York. He formerly co-chaired the Business Committee of the Metropolitan Museum of Art and was on the Board of the Securities Industry and Financial Markets Association in Washington, D.C., serving as Chairman in 2006.
Mr. Gorman holds a bachelor's degree and law degree from the University of Melbourne, and an MBA from Columbia University
Don't worry "Main Street" - the scandal-ridden NY Fed which recently fined Goldman Sachs $50 million for consistently getting confidential inside information (the same NY Fed which is under the control of former Goldman Sachs economist Bill Dudley, that is) assures everyone that Mr. Gorman will first and foremost look after your interests, and not anyone else's.
Curious who else is on the Fed's board: the latest org chart is shown here.
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The Federal Reserve Bank of New York announced that James P. Gorman, chairman and chief executive officer of Morgan Stanley, has been elected a Class A director representing Group 1, which consists of member banks with capital and surplus of more than $1 billion. Mr. Gorman will serve a three-year term beginning January 1, 2016.
Your tax lollars at work bitches. http://foxtrotalpha.jalopnik.com/the-u-s-govt-spent-43-million-on-a-gas-station-that-s-1740025370
Well whom is better to run a state that is bankrupt and needs to hide it, than someone that ran a bankrupt corporation and hide it as long as he could.
Hooray. Another jew.
I was wondering about that but assumed the name was O'Gorman without the 'O'. And that's as Irish as they get. If an Irish guy got appointed to Fed there must be some mistake.
Yep! It's as if it's one big club.
James P. Gorman(Ashkenazi Jew) – President and Chief Executive Officer
http://www.morganstanley.com/about/company/governance/board.html
"Hooray. Another jew."
Why is any of this surprising from "Hymietown"?
Hymietown...don't let me down...
https://www.youtube.com/watch?v=gwQPHkvAfSQ
"Meet The New York Fed's Latest Director: The Ex-CEO Of Another Bailed Out Bank"
In other words, he's perfect!
YES !
I feel so much better /sarc
We are very fortunate to have such self sacrificing people such as the Honorable Mr. Gorman working in places of high offices serving our great county. I hope that he is compensated fairly for his exceptionalism, and treated with the respect and dignity he deserves.
Anybody have a rope?
"in your face Ameridumbs..."
- The MoneyChangers -
The incestuous "revolving doors" in D.C. is beyond pathetic.
This, " I'll take it up the ass for you now, if you suck my cock after I get out of Camp Snoopy", insider toilet stall politicking has destroyed too many lives.
Our next Secretary of the Treasury.
Another reason for all Americans to be embarrassed by the President, Congress, SC, DOJ, FBI, SEC, and CFTC among others.
What a fuckan Clown Show.
Reinstate Glass–Steagall.
Break up Goldman
End the Fed.
Close, don't break them up. Pull their license entirely! Shut down the criminal organization. Except world government and finance would collapse since their tentacles reach into the highest levels everywhere.
LOL, Too Big To Fail is even larger now.
Super TARP this time.
Even larger rewards for the criminals thanks to the Federal Reserve. Partners in crime.
Another Jew.
hate to say this but Gorman could also be Irish. One of my fellow clansman corrupted by the fiat jewry.
Hebrews aren't jews either.
Words! HA!
And, you believed any of them!!
Has everyone asked their Congressmen and Senators to vote an end to the Federal Reserve Bank yet?
How much you wanna bet he is not a consitutional conservative?
My money says Gorman is as progressive as they come, al la Corzine.
Grimaldus
$107 billion? According to latest hearings, Merrill, Morgan Stanley and Citi received closer to $6 trillion out of $12.8 trillion in total bank bailouts since 2007 [1,2].
1. http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aS89AaGjOplw&refe...
2. http://wallstreetonparade.com/2015/03/warren-citigroup-morgan-stanley-me...
Gangland
Just goes to show you that you cannot apply the laws of the free market to the managed market.
In the managed market nothing succeeds like failure.
Failure calls out all those things that socialists and bureaucrats love: money to fix the failure, employees to analyze the failure and improve the plan, and power ...because where incompetence is thickest more authority must surely, this time or next, transform the impossible into the workable.
Here's a lesson that applies to Army's and businesses: Reinforce success sooner. Fire failure faster.