The Fed’s Trading Scandal Broadens into a Scandal with the Mega Banks It “Regulates”

Last Thursday, Jeanna Smialek, who reports on the Fed for the New York Times, broke the news that the President of the St. Louis Fed, James Bullard, gave a private, invitation-only briefing on October 14 to clients of Citigroup – a Wall Street megabank that is supervised by the Fed and which receive...