The Martens: Why the financial markets are broken – extreme corruption at the top.

“The pint-sized Carmen Segarra had the guts to sneak a tiny tape recorder into the New York Fed to blow the whistle on the crony relationship between the Federal Reserve Bank of New York and Goldman Sachs. Segarra was an attorney and bank examiner at the New York Fed but when she attempted to write a negative report on Goldman Sachs, she was fired. (See The Carmen Segarra Case: Welcome to New York, Wall Street and McJustice.) The New York Fed has yet to be reformed. Instead, it has become an unlimited money spigot to cover up the travesties on Wall Street while being, literally, owned by the largest Wall Street banks.”

Since 2006, no less than four career attorneys at the Securities and Exchange Commission have explained how the SEC has become a captured regulator and no longer a force for good. Three of those whistleblowers went public; one filed an anonymous letter.

Please read the full article on the Martens’ website here…

The Stock Market Is Broken as a Bellwether; Here’s How to Fix It 15 January 2021 Pam Martens of Wall Street on Parade


TSP Smart & Vanguard Smart Investor public service post



Categories: Perspectives, The Smart Bird