Don't put too much faith in the Fed, it turns out they are just Wall Street's lapdog

Don't put too much faith in the Fed, it turns out they are just Wall Street's lapdog. Michael Lewis reports that 46 hours of tape recording, made secretly by a Federal Reserve employee, of conversations between the Fed and Goldman Sachs have been made publically available. The tapes reveal the extent to which In meetings, Fed employees would defer to the Goldman people; if one of the Goldman people said something revealing or even alarming, the other Fed employees in the meeting would either ignore or downplay it. Lewis says you may have had a suspicion that the regulators were more of less controlled by the banks... well, now you know. (VIEW LINK)