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CSPAN Key Capitol Hill Hearings December 14, 2013

Ill make the closing comment on this issue, which seems to me the fed has sort of been between silla, we tried very hard to create a fed that would not be subject to political control and manipulation, and countries like argentina, you see what happens when Central Banks are subject to political manipulation, but we tried to offset that with much more private sector influence and private sector influence, but the problem is, you fall into the other trap then of being subject to too much industry influence, and i think thats been a continuing struggle with the fed, how do you actually remain balanced on the high tension wire, right, between the two threats, and i think the other thing about the new york fed in 2008, steven friedman, who was the former chairman and still a director of goldman, was on that board, remained on that board even after goldman became a Bank Holding C ....

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