NY Fed Looks To Seal Documents In Latest Whistleblower Case

As was widely reported last week in both the alternative media and the mainstream presstitute media , former senior bank examiner at the New York Federal Reserve, Carmen Segarra, has filed a lawsuit against her former employer accusing them of wrongful termination after she determined that Goldman Sachs had insufficient conflict-of-interest policies. As usual, anything that threatens to shed some light on the criminality at the most powerful institutions in America is immediately labeled “top secret” or “classified” and hidden from the public. Just as you would expect in a Banana Republic.

From Pro Publica:

On Friday, the Fed asked for a protective order to seal documents in the case as well as parts of the complaint. In a letter to U.S. District Judge Ronnie Abrams, New York Fed counsel David Gross said the information should be removed from the public docket because it is “Confidential Supervisory Information,” including internal New York Fed emails and materials provided to the Fed by Goldman.

“These documents show that at the time (Segarra) left the employ of the New York Fed, she purloined property of the Board of Governors of the Federal Reserve System,” Gross wrote, citing Fed rules that prohibit disclosing supervisory information without prior approval of the Fed.

Gross argues that the Fed’s obligation to keep bank supervisory records secret outweigh the public’s right to know. “The incantation of a ‘public right to know’ cannot ever be a license to discharged employees that they may violate Federal law simply by filing a complaint in Federal court,” Gross wrote.

The New York Fed has historically been one of the most opaque financial regulators and maintains that it is not subject to the Freedom of Information Act because it is not a public agency.

More