“This report reveals the inherent conflicts of interest that exist at
the Federal Reserve,” said Sanders in a statement. “At a time when
small businesses could not get affordable loans to create jobs, the
Fed was providing trillions in [then] secret loans to some of the
largest banks and corporations in America that were well represented
on the boards of the Federal Reserve Banks. These conflicts must end.”
How does the Federal Reserve insure there is no conflict of interest or minimize the conflict of interest within the organization? I am wondering this, because a lot of the board members seem to come from the private sector, so I am wondering how the organization insures that the board members don't just pocket money for themselves. Is there any mechanism or rule that seeks to combat this?
The official account for The Politicus. Sharing news we find interesting.