Financial Regulators Bend Rules for BankstersJames Hall With the attention that Carmen Segarra, the whistleblower of Wall Street, has gained, the noise from the banking establishment pushes back. Here comes the expected spin from the Fed: The New York Fed Slams Tape-Recording Whistleblower, Says She Was Fired After Just 7 Months Over Performance. Read their Statement Regarding New York Fed Supervision. So what is this controversy all about? How dare a mere low-level regulator document the goings on within the financial establishment, Inside the New York Fed: Secret Recordings and a Culture Clash, writes. Segarra ultimately recorded about 46 hours of meetings and conversations with her colleagues. Many of these events document key moments leading to her firing. But against the backdrop of the Beim report, they also offer an intimate study of the New York Feds culture at a pivotal moment in its effort to become a more forceful financial supervisor. Fed deliberations, confidential by regulation, rarely become public. In an attempt at damage control, the Fed was looking for a favorable review. What they got was not what they wanted, N.Y. Fed Staff Afraid to Speak Up, Secret Review Found. A Short History of the Breathtaking Cluelessness of U.S. Financial Regulators, is outlined by the Motley Fool analysis. Any serious observer of the cozy relationships that permeate the financial community knows all too well that the revolving door turns when favorable regulation decisions spin in the right direction. The significance of this latest scandal, points out just how the regulation process is conducted in the suites of money manipulation. This next account is most telling; You Should Listen To The Goldman New York Fed Story. Why is Goldman exempt from any meaningful oversight? William D. Cohen over at Politico provides an answer to the question, Why the Fed Will Always Wimp Out on Goldman. Breaking down all the details and dialogues that transpire in the normal course of banking reviews comes down to the undeniable fact that Goldman is in charge of the process. The ownership of the Federal Reserve, a private entity, is ultimately owned by the shadow families that control the major financial institutions. Only a very nave analysis or a compromised minion of the financial elite Plutocracy would dispute the power and clout that is applied to the political nature of regulatory oversight. Banksters earn this graphic title by the way they conduct their protection racket. Courageous regulators like Carmen Segarra are treated as traitors to a system that is designed to facilitate every abuse that firms like Goldman can devise. Now you know who really owns the gold, because they make up whatever rules that foster their financial corruption. Original article archived here James Hall, a reformed, former political operative. This pundits formal instruction in History, Philosophy and Political Science served as training for activism, on the staff of several politicians and in many campaigns. A believer in authentic Public Service, independent business interests were pursued in the private sector. Speculation in markets, and international business investments, allowed for extensive travel and a world view for commerce. Hall is the publisher of BREAKING ALL THE RULES. Contact batr@batr.org 