Audit finds potential conflicts of interest at the Fed

07/22/2011 | Washington Post, The · MarketWatch · Hill, The

An audit by the Government Accountability Office found weak conflict-of-interest policies and potential conflicts at the Federal Reserve. The GAO found that many Fed employees and contractors owned stock in companies that received assistance from the central bank during the financial crisis. William Dudley, president of the Federal Reserve Bank of New York, owned American International Group shares as the government worked to rescue the insurer. Dudley then was a senior official at the New York Fed.

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Washington Post, The · MarketWatch · Hill, The

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