Secret Tapes Expose Goldman Sach’s Special Treatment By Fed? Hearings Demanded
Elizabeth Warren is insisting she wants to hold hearings on Capital Hill regarding secret tapes that reveal allegedly the Fed exempts Goldman Sachs above all other banks. The tapes appear to show an “unwillingness”, as Reuters put it, among some Fed supervisors to both demand specific information from Goldman about a transaction with Banco Santander and to strongly criticize what Segarra concluded was the lack of an appropriate conflict-of-interest policy at Goldman. This has been the legendary problem that has plagued Goldman through numerous conspiracy theories. It appears that the tide is starting to turn against the NY banks and once the Economic Confidence Model turns in 2015.75, the downside does not look very good for the bankers this time around.
US Share Market – Next Week
The S&P fell and bounced off of the Weekly Bearish Reversal at 1565. Once again we rallied. It is hard to see where is there a bubble when retail participation in the stock market is at historic lows. Nonetheless, next week is a turning point we need to pay attention.
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