Old-ish Guy To Leave Goldman Board

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Stephen Friedman, who preceded Corzine as Goldman CEO and whose tenure as New York Fed chairman was prematurely ended by the somewhat unsettling sight of said New York Fed pouring bailout money into Goldman's maw as he worked for both, has reached mandatory retirement age.

Friedman was chairman of the Federal Reserve Bank of New York and a director at Goldman when the bank came under the Fed's supervision in 2008. He continued to lead the New York Fed as it propped up Goldman and other banks by offering the companies billions in aid.

The dual roles held by Friedman during the financial crisis brought greater scrutiny of conflict of interest policies for Federal Reserve leaders.

Which is not to say that the man lacks perspective. Absorb this piece of wisdom offered upon his handoff of Goldman's reins to Corzine:

“Only on Wall Street,” he told The New York Times at the time, “do people think it bizarre that I don’t want to spend half of my day on the telephone and the other half on an airplane.”

Controversial Goldman board member to retire [AP via BW]
Stephen Friedman to Retire From Goldman Board [DealBook]

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