Fed To Punish Goldman Sachs For Leak From Fed

A real tight case of "Well, SOMEONE'S gotta pay."
By Youngking11 (Own work) [CC BY-SA 3.0], via Wikimedia Commons

By Youngking11 (Own work) [CC BY-SA 3.0], via Wikimedia Commons

Someone has to pay for the “essentially innocuous” leak of confidential documents from New York Fed to a now-former Goldman Sachs banker who’d worked at the New York Fed roughly five minutes earlier.

And if the Fed has anything to say about it, it’s going to be Goldman Sachs. And some other unemployed guy.

But the Fed is now preparing an enforcement action of its own against Goldman, according to people briefed on the matter, and the bank is expected to pay a financial penalty in that case as well….

Mr. Bansal, who accepted a misdemeanor plea deal with federal prosecutors in Manhattan, did not explicitly accuse Mr. Jiampietro of instructing him to obtain the documents.

That has not stopped the Fed from pursuing its own enforcement action against Mr. Jiampietro, the people briefed on the matter said. In contrast, the Fed is not expected to penalize the other Goldman employees who worked closely with Mr. Bansal.

Justice will be served!

Fed Prepares Action Against Goldman Sachs in Leak Case [DealBook]