Brian Sack Is Out

Tyler Durden's picture

The New York Fed's Brian Sack, better known by everyone as the head of the Plunge Protection Team, is gone.

NEW YORK—The Federal Reserve Bank of New York today announced that Brian Sack, executive vice president and head of the Markets Group, is resigning from the Bank effective September 14, 2012.


Mr. Sack will remain in his current position as head of the Markets Group and Manager of the System Open Market Account (SOMA) until June 29, 2012, to help ensure a smooth transition. The New York Fed has started the search process for Mr. Sack's replacement.


"Brian's service to the Bank over the past three years has been critical to our response to the financial crisis and the country's economic recovery," said William C. Dudley, president and chief executive officer of the New York Fed. "I accepted his resignation with great regret and wish him well."


Mr. Sack will step down as head of the Markets Group and SOMA Manager on June 29, 2012. He will then be placed on leave until September 14, 2012, during which he will have limited contact with the Bank and no access to Bank information, including FOMC and supervisory materials.


Mr. Sack joined the New York Fed as head of the Markets Group in June of 2009.

And to think we were only kidding two days ago when we tweeted the following...

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
ihedgemyhedges's picture

Sack got sacked.............

And why the Hades is he on leave 'til Sept 14 after leaving in June?????????  Don't you just love the Fed?????

narapoiddyslexia's picture

So he can suck some fiat without working.

fonestar's picture

Another high level banker resignation... could there be something to the allegations of Benjamin Fulford and David Wilcock?

NotApplicable's picture

Fulford? Never. The man is pure disinfo. A poor version at that. He cannot even tell a coherent lie. For instance, his secret Japanese society that's taking on the Western elite was going to force Bush to step down and demand he be replaced by, Al freakin' Gore!

Yep, he's tuned into the opposition, for sure, for sure.

aerojet's picture

Is he tied in with Divine Cosmos? The guy that runs that site is a whole level of crazy higher!

Karl von Bahnhof's picture

American bukakke is better!

Ooops! Did it again ...

Common_Cents22's picture

keeping him on payroll to keep him quiet til sept 14 for some reason.

back2basics's picture

maybe he doesn't want to be involved in QE3 and is leaving right before the perscription is recieved 

transaccountin's picture

Muppet for replacement~

UP Forester's picture

Yeah, but I'm wondering if the Fed SOMA is the same as the Brave New World stuff....

Seems to keep "investors" pretty mellow...

baby_BLYTHE's picture

should be in leg irons and an orange jumpsuit. Bring back the Coinage Act of 1792!

Ratscam's picture

what else is Guantanamo for?
oh crony political terrorist, not financial terrorist, sorry for asking.

Marge N. Callz's picture

To soon be replaced by Bill Gross, in order to buy MBS from himself in operation Twist 2.0.

machinegear's picture

Mr. Sack will step down as head...


I am sorry. I don't know why I find that so funny...


*chuckle* :-)

slaughterer's picture

If Brian Sack becomes a whistle blower, this might really lead to some problems...

PaperBear's picture

yep, 450 million problems. This being the number of bullets bought by the Department of Homeland in-Security.

Of course the DHS is planning to fill other sacks with lead not this sack.

Miffed Microbiologist's picture

Yeah, he better stay away from jacuzzis. Hmmm, second thought, may be not.

unwashedmass's picture


cant wait for the book tour....

undercover brother's picture

he's probably made enough money frontrunning himself and now ready to enjoy his retirement

ZippyBananaPants's picture

Who gives a shit?  Apple is ready to hit a new high!

Josh Randall's picture

Rats adandoning ship -- all the high profile resignations are mounting towards something significant

YesWeKahn's picture

on Goldman's payroll?

101 years and counting's picture

where do i apply?  i can mindlessly buy the most insolvent junk imaginable with taxpayer money and be ok with a $200k salary!!!!


Hansel's picture

Wonder which bank he's going to for his 7 figure salary.

vmromk's picture

Bring that "human" piece of garbage back, who the hell is gonna keep AAPL above $600/share?

Bernanke (you MOTHERFUCKER) help !!!!!

tardball's picture

To top of Sack's sacking, he needs a good, swift shot to the sack.

Lost Wages's picture

But now the Fed can't use Sack as collateral.

Catullus's picture

Please. It's Brian P. Sack.

Bartanist's picture

There are all sorts of rumors all over the conspiracy sites about bankers leaving and being forced out. Gosh, makes you wonder if there really is a "counter-force" to the evil empire.

i-dog's picture

I believe that "theory" is a disinfo front to stop the sheeple from worrying ... while all the bankstaz head for the underground cities that have [apparently] been built. Something wicked this way comes.....

msamour's picture

If by the end of November you do not see anyone of importance in the news anymore, then you should start to worry, grab a shovel and dig far, and dig fast! Where is Sudden Debt when you need his Gumby panic icon...

unwashedmass's picture


out two steps before the unavoidable mega crash......and the peasants with pitchforks...

infinity8's picture

Isn't 9/14 the day of the next debt ceiling breach?

junkyardjack's picture

The economy is doing great, no need for government manipulation anymore...

SantaCruz's picture

frees up another kushy spot for an ex-goldmanite

penexpers's picture

Fuck you, Brian Sack.

BrokeDayTrader's picture

He'll become managing partner at some blue blood firm soon enough.

I hate that guy!!!

Henry Chinaski's picture

Frees him up to be on Romney's cabinet.

rosiescenario's picture

Brian was replaced by an algo in one of the Feds cost cutting is a very simple algo based on red and green and the depth and duration of red.

jack stephan's picture

Witness Mr. Henry Bemis, a charter member in the fraternity of dreamers. A bookish little man whose passion is the printed page, but who is conspired against by a bank president and a wife and a world full of tongue-cluckers and the unrelenting hands of a clock. But in just a moment, Mr. Bemis will enter a world without bank presidents or wives or clocks or anything else. He'll have a world all to himself...without anyone.
The best laid plans of mice and men...and Henry Bemis...the small man in the glasses who wanted nothing but time. Henry Bemis, now just a part of a smashed landscape, just a piece of the rubble, just a fragment of what man has deeded to himself. Mr. Henry the Twilight Zone.

j0nx's picture

And in the end surrounded by books with no way to read them. Great episode, one of my all time favorites in fact.

Jacque Itch's picture

The glasses breaking is a classic moment.

Alan Harper does the Bemis impersonation in the beginning of a 'Two and a Half Men" episode when he freaks out in a bookstore, complaining he has no time to read.

WAMO556's picture

The irony of it all. And I love THE TWILIGHT ZONE - the ironies are just too much. All the time in the world, and now his glasses are broken - the irony!!!

icanhasbailout's picture

My cat says there's a derivatives unit waiting for him at JPM

tekhneek's picture

Tyler the prophet.


Kaiser Sousa's picture

It was supposed to read, "Brian Sack Head Of The NY Fed Has Been Shot Dead..." GOD DAMMIT!!!!

Aunty Christ's picture

Interesting timing, his last day will be right around the end of Operation Twist. Who needs Sack if there's no more QE?