Corporate governance practices at the 12 regional Federal Reserve banks faced criticism this week after the WSJ reported on Monday how Stephen Friedman, chairman of the Federal Reserve Bank of New York and a Goldman Sachs director, was granted a waiver that allowed him to hold Goldman shares even after Goldman became a Fed-regulated bank holding company in September. The report fuelled calls to overhaul policies on Fed directors who are board members of banks and own shares of bank-holding companies.

This entry was posted by Gwen Robinson on Wednesday, May 6th, 2009 at 5:17 and is filed under Capital markets, People. Tagged with Federal Reserve Bank of New York, goldman sachs. Edit this entry.