By Daily Crux Editor Brian Hunt:
If you need more evidence that the guys running Government Sachs are a slick gang of thieves, you need the story of Stephen Friedman.
The ex-Goldman Sachs chairman has led the New York Fed's board since January 2008. He's in the "inner circle" of monetary policy and bank bailouts. And just a few months ago, Friedman just happened to buy shares of Goldman Sachs near the absolute bottom in the stock. He's made over $3 million on the "trade" so far.
Friedman is resigning over the investigation of the "trade." This is almost as absurd as Hank Paulson's behavior (links to that below).
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More on Hank Paulson and Government Sachs:
Hank Paulson is either stupid or criminally negligent, Part II
Former Treasury Secretary is either stupid or criminally negligent