“It is of concern to the industry that instead of trying to facilitate resolving these issues, you seem to be throwing a wrench into it. Wall Street is our Main Street — love ‘em or hate ‘em. They are important and we have to make sure we are doing everything we can to support them unless they are doing something indefensible.” 1

That’s what Kathryn Wylde told New York Attorney General Eric Schneiderman in an attempt to pressure him to back off investigating criminal behavior by the big Wall Street banks and major mortgage firms who helped cause the 2009 economic collapse.

Who is Kathryn Wylde? Incredibly, Kathryn Wylde was appointed to represent “the public” on the Board of the New York Federal Reserve Bank. But while she is supposed to be representing you, she’s also on the payroll of the big banks. Her day job is chief executive of the Partnership for New York City. Her $466,000 annual salary is funded by dues from partner companies including many of the very banks Schneiderman wants to investigate over their role in the mortgage crisis.2

Tell Ben Bernanke and the Governors of the Federal Reserve System to fire Kathryn Wylde.

Wylde’s behavior is unacceptable. Even though her mandate as a director of the New York Fed is to represent the people, she has been pressuring New York’s top law enforcement official to stop his efforts to protect the public from being ripped off by unscrupulous banks.

New York’s Attorney General Eric Schneiderman is one of a handful of state attorneys general who is standing up to make sure the Wall Street crooks who illegally cheated millions of people don’t get a free pass.

It’s shocking that a director of the Board of the New York Fed who was appointed to represent the public would tell her state’s attorney general that he needs to stop investigating the banks’ criminal behavior and instead “make sure we are doing everything we can to support them.”

Tell Ben Bernanke and the Governors of the Federal Reserve System to fire Kathryn Wylde.

The Board of Governors of the Federal Reserve System appointed Kathryn Wylde, and they have the power to fire her. We must make it crystal clear to the Governors of the Federal Reserve System that no representative of the New York Fed who purportedly represents ‘the public’ should be pressuring the New York State Attorney General to drop his calls for investigation of criminal behavior on Wall Street. Especially not a representative who makes nearly a half million dollars a year courtesy of the very banks she is trying to shield from investigation.

The members of the Board of Governors include Chairman Ben Bernanke and Vice Chair Janet Yellen, along with Elizabeth Duke, Dan Tarullo, and Sarah Bloom Raskin. We will deliver a copy of our petition with your signature directly to every member.

Tell Ben Bernanke and the Governors of the Federal Reserve System to fire Kathryn Wylde.

Kathryn Wylde is so out of touch that she thinks it’s ok to brag to the New York Times that she told the New York Attorney General to stop throwing a wrench in the works with his investigations and start doing everything he can to support big banks. She needs a reality check, and if we put enough public pressure on the Board of Governors of the Federal Reserve System we can be sure she will get the message loud and clear.

—–—

1. “ Attorney General of N.Y. Is Said to Face Pressure on Bank Foreclosure Deal”,” New York Times, August 21, 2011.
2. “New York Fed Director Kathryn Wylde Provokes Accusations Of Conflict Of Interest,” Huffington Post, August 23, 2011.

Source:
Tell the Fed to fire Kathryn Wylde
Credo Action

Category: Federal Reserve, Markets

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

24 Responses to “Tell the Fed to fire Kathryn Wylde”

  1. Stuart says:

    Sign of the times: I’m no longer shocked by comments such as hers. That’s telling. A financial coup indeed.

  2. dh2212 says:

    agree with Stuart but am signing the petition

  3. AHodge says:

    go boy
    is this indictible? as malfeasance or whatev
    assume it would be the feds and Holder
    fat chance
    otherwise Schneiderman could have cuffed her on the spot?
    a sweet moment

  4. Robespierre says:

    Well, no surprise here, when the DOJ has given them complete immunity from criminal prosecution I would expect bankers in general to become more brazen and emboldened. My guess they know that regardless of who is in “power” they are still in power

  5. willid3 says:

    Robespierre, think they have been in power for at least a decade. if not longer. they just used to on occasion do some thing good for the country, but that was more by happenstance than by design. or desire

  6. honesty says:

    Thank you Barry for being a voice for good citizenship.

  7. constantnormal says:

    I am a little hopeful … we are, after all, in the beginnings of an election campaign cycle, and the administration will be looking for prominent financial industry perps to publicly keel-haul … not the actual big fish, but big enough to confuse the sheeple, and to support the myth that the administration is on the side of the People …

    I guess she didn’t get the memo about this being campaign season … either Obama wakes up Holder and gets him on the job, or one of his opponents will be pointing fingers and calling names …

    … so long as this story remains in public view at least … if it all fades away, nothing will happen …

    KEEP CRANKING THIS ONE OUT, BR !!!! (you’re doing a GREAT JOB!)

  8. mathman says:

    What Goldman is saying to it’s private clients:

    http://www.thedailycrux.com/content/8575/Goldman_Sachs

  9. Molesworth says:

    Wouldn’t it be nice if Guest Author gave us links to Fed so we know how to ask them to fire her?

  10. Chad says:

    It would be nice to have links, but I’m sure I can find them if I look.

    Also, if you are a citizen of New York let your governor and attorney genral know you want them prosecuted. I can’t imagine a better way to get votes on the national stage than to put some of those guys behind bars.

  11. HarleyHoward says:

    The link is at the bottom of the post:

    Source:
    Tell the Fed to fire Kathryn Wylde
    Credo Action

    Common Sense from the Heartland – http://howardwemple.com

  12. Molesworth says:

    Thanks HarleyHoward. Didn’t think the Source link would be more than just a ditto of the post as GA didn’t write, “to pressure them to fire her, click below and sign our petition” or something to that effect.
    Anyway, thanks again. I signed so they got one more.

  13. Bob A says:

    How the hell do you expect them to make any money if you won’t let them rip off consumers and trusting hard working savers? Sheesh

  14. HarleyHoward says:

    Molesworth – Excellent! And as I posted in my blog:

    Fire the Entrenched Elites!…
    Please read and sign the petition and please forward it to everyone you know, asking them to sign it too. This is a small step to We the People starting to take back our country and our lives!

    Common Sense from the Heartland – http://howardwemple.com

  15. Tim says:

    Here’s the link to the petition to get her fired:

    http://act.credoaction.com/campaign/fire_wylde/index2.html

    PLEASE Sign it.

  16. TapeReader says:

    I am a big fan of Schneiderman….I don’t think that he will be bending over for Ms. Wylde anytime soon.

    http://www.schneidermanforpresident.com/

  17. MikeG says:

    Kathryn Wylde was appointed to represent “the public” on the Board of the New York Federal Reserve Bank. But while she is supposed to be representing you, she’s also on the payroll of the big banks.

    NY Fed’s response:
    Why do you think we appointed her?
    In our defense, we get away with so much dirty stuff nowadays, we didn’t think anyone would notice.

  18. mock turtle says:

    if you want to contact the fed board of govs directly via the web

    heres their “contact us” web page

    http://www.federalreserve.gov/apps/contactus/feedback.aspx

  19. ToNYC says:

    Nice set up, like the in Zeta-Jones -Clooney, ” Intolerable Cruelty”. She let her mad weenie out. Choo-Choo.

  20. franklin411 says:

    Well, Mitt Romney says that “corporations are people.” So isn’t it true that Wylde *is* representing people? =P

  21. ToNYC says:

    Fed may be setting up a sacrificial lamb to keep the misdirection on and away from immediately ditching the 70′s cope-creep of the full-employment dual mandate.

  22. VennData says:

    The Fed is trecherous. …er …a treasonous.

    RP

  23. klhoughton says:

    Cerf’s time in NYC featured other controversies. In October 2007, it was revealed that he had assigned an employee of the DOE press office to tape Diane Ravitch at public events, and was keeping a dossier on her. After failing to interest any reporter to write about her alleged contradictions, he got Kathryn Wilde head of the NYC Partnership to publish an NY Post oped attacking her.

    Later, when asked by Patrick Sullivan of the Panel for Education Policy about this “Soviet-era approach to stifling dissent,” Cerf responded that it was totally “appropriate” to spend public funds taping Diane, and to prepare a document tracking her positions.

    Nevertheless, the conservative National Review described Cerf’s smear tactics this way: “Welcome to Moscow or Berlin circa 1935.”

    link here

  24. nathanhere says:

    Love the refrain.