Goldman Sachs’ seedy underbelly exposed in shocking tapes
Goldman Sachs’ seedy underbelly exposed in shocking tapes from GATA
By Kevin Dugan
New York Post
Thursday, October 11, 2018
Fresh dirt has spilled at Goldman Sachs — and this time it has been caught on tape.
David Solomon, who took the helm of the Wall Street giant from Lloyd Blankfein last week, once blew off criticism of Goldman’s double-dealing in a big energy merger as a matter of “perception” — a cheeky dismissal that came despite a class-action lawsuit against the deal that eventually cost Goldman $20 million in fees.
That’s among the cringeworthy quotes that Carmen Segarra claims she secretly recorded behind closed doors for her new book “Noncompliant: A Lone Whistleblower Exposes the Giants of Wall Street.”
The 340-page exposé expands on her previous claims that Goldman Sachs has long exploited an improperly cozy relationship with Wall Street regulators.
Segarra was a former bank examiner who looked into Goldman Sachs for the Federal Reserve Bank of New York, and claims she got fired in 2012 after making too much noise about Goldman’s alleged conflicts.
The New York Fed has often been blasted for its lackadaisical approach to overseeing banks leading up to the 2008 financial crisis. Its last president, William Dudley, was named in 2009 after spending 21 years at Goldman. But Segarra’s book claims that the problem persisted for years after the crisis, with regulators happy to act on the banks’ behalf.
“We want [Goldman] to feel pain, but not too much,” her boss — who goes by the pseudonym Connor O’Sullivan in the book — told her, Segarra claims.
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