The Federal Reserve Bank is drawing jeers for hiring a former top executive from the now-defunct investment bank Bear Stearns to help it gauge the health of other banks.
Michael Alix was head of risk management for Bear Stearns for two years until the institution imploded this spring, a victim of its (risky) subprime-mortgage related investments.
Last Friday, the Federal Reserve Bank of New York quietly announced it had hired Alix to advise it on bank supervision.
TVNL Comment: This is not irony, this is evidence of conspiracy.
The Federal Reserve raised interest rates on Wednesday by a quarter of a percentage point and...
The world’s richest 1% are on course to control as much as two-thirds of the world’s...
President Donald Trump on Thursday set in motion tariffs that will slap fees on many imports...
