Chris Whalen Annihilates NY Fed Director Kathryn Wylde

Whalen said last week:

• "I'm just appalled.  She's not supposed to behave this way.  If she wants to be an advocate for the big banks, then she ought to step down."

We covered the outrage HERE.

Here is the most gluttonous paragraph, coming from NY Fed Board member Kathryn Wylde. Characterizing her conversation with Mr. Schneiderman that day as “not unpleasant,” Ms. Wylde said in an interview on Thursday that she had told the attorney general: 

• “It is of concern to the industry that instead of trying to facilitate resolving these issues, you seem to be throwing a wrench into it.  Wall Street is our Main Street — love ’em or hate ’em. They are important and we have to make sure we are doing everything we can to support them unless they are doing something indefensible."

Wylde defended her remarks HERE.

Kleptofraudtocracy at its finest and in its most pure, unadulterated form.

Comments

[Cheyenne]

"Wall Street is our Main Street — love ’em or hate ’em. They are important and we have to make sure we are doing everything we can to support them unless they are doing something indefensible."

Indefensible like defrauding investors out of their retirements and homeowners out of their houses? Or like burning down the houses that you bought insurance on? Or lying to the public about the sanctity of those insurance contracts, which are fully voidable? Or does she mean indefensible like accounting fraud that filches shareholders' money and puts it into executive pockets? Or maybe she meant duping home buyers into taking on loans that Wall Street knew would fail? Or paying off politicians so Wall Street can avoid paying for its crimes?

Kathryn's qualifier was sorta pregnant.