Yesterday we broke the news of what is prima facie evidence, sourced by none other than the Federal Reserve's official August 16, 2007 conference call transcript, that then-NY Fed president and FOMC Vice Chairman Tim Geithner leaked material, non-public, and very much market moving information (the "Geithner Leak") to at least one banker, in this case then Bank of America CEO Ken Leiws, in advance of a formal Fed announcement—an act explicitly prohibited by virtually every capital markets law (and reading thereof). It was refreshing to see that at least several other mainstream outlets, including Reuters, The Hill and the NYT, carried this story which is far more significant than Season 1 of Lance Armstrong's produced theatrical confession and rating bonanza. It is notable that Richmond Fed's Jeff Lacker who made the inadvertent (or very much advertent) disclosure has not backed down from his prior allegation and told the NYT yesterday that "My understanding was that President Geithner had discussed a reduction in the discount rate with these banks in connection with these initiatives."
Surely Rudy Giuliani's 'Conclusive Proof' of Machine-Based Election Fraud Will Save Him From Dominion's $1.3 Billion Defamation Lawsuit
The company says Donald Trump's leading lawyer perpetrated "a viral disinformation campaign" based on "demonstrably false" charges.
The Washington Post Tried To Memory-Hole Kamala Harris' Bad Joke About Inmates Begging for Food and Water
At a time when legacy publications are increasingly seen as playing for one political "team" or the other, this type of editorial decision will not do anything to fix that perception.
"The only people who broke the law here were the police officers and TBI agents who participated in this flagrantly unconstitutional arrest."
Union leaders shame parents, arguing that equity gaps will widen if parents pull their children out of public schools.