A “Perfectly Legal” Scam is Perfectly Unacceptable to Real Bank Supervisors

New Economic Perspectives:

Whatever else comes out of the release of the audio tapes by Carmen Segarra, they have harmed the reputation of Mike Silva, the long-term senior supervisor at the Federal Reserve Bank of New York (FRBNY). The (lengthy) excerpts below are taken from the This American Life program and are necessary to understand the context.

A useful backgrounder to the radio programme.