Carmen Segarra, former employee of the Fed pictured at left, said that in her seven months of examining Goldman Sach's legal and compliance divisions, she found the bank did not have policies to prevent conflicts of interest as required by law.As a result of Segarra's findings, the New York Fed's Legal Compliance and Risk team voted to downgrade Goldman's annual rating pertaining to policies and procedures.
As of this date, the rating has not been downgraded, but Ms. Segarra has been fired. She is now suing the Federal Reserve for wrongful termination. Draw your own conclusions.
