Cashing in on 'Government Sachs'

TruthDig

By Robert Scheer

Robert Scheer is the editor of Truthdig, where this article originally appeared. His latest book is The Pornography of Power: How Defense Hawks Hijacked 9/11 and Weakened America(Twelve).

We are so inured to tales of business corruption that even a devastating expose in the Wall Street Journal no longer shocks us. The fact that the chairman of the New York Federal Reserve Bank made millions off his secret purchase of Goldman Sachs stock, "in violation of Federal Reserve policy," as the WSJ put it, at a time when the New York Fed was ostensibly overseeing the antics of the Wall Street firm, has barely registered a blip of outrage. [more]