Tuesday, May 22, 2012

Bill targets Fed conflicts

http://www.politico.com/news/stories/0512/76630.html

On the heels of JPMorgan’s stunning trading losses, two senators on Tuesday unveiled a bill that would ban financial executives from regulating themselves by taking positions at the Federal Reserve.

The measure is aimed at barring what Sens. Bernie Sanders (I-Vt.) and Barbara Boxer (D-Calif.) call a conflict-of-interest issue that includes JP Morgan Chase CEO Jamie Dimon, who sits on the board of the New York Federal Reserve.

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