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Why Did Goldman And JPM Get Fed Minutes A Day Early?

QE could end this Summer according to leaked Fed minutes.

Why were FOMC minutes released to a few organizations a day early, and who got the data?  Peter Cook examines what happened and how it damages the Fed's already tattered reputation for transparency and fair play.

Late update on the story...



List of Banks and Lobbying Firms

Who Got the Fed Minutes Early - WSJ

American Bankers Association
American Council of Life Insurers
Barclays Capital
BNP Paribas
Capital One
Carlyle Group
The Clearing House Association
The Cypress Group
Fifth Third Bank
Goldman Sachs
The Gray Company
Guggenheim Partners
Independent Community Bankers of America
J.P. Morgan Chase
King Street
National Association of Realtors
Regions Bank
Rich Feuer Anderson
Roberts Raheb & Gradler
Securities Industry and Financial Markets Association
Standard & Poors
Sullivan & Cromwell
U.S. Bank
Wells Fargo
Whitmer & Worrall
Williams & Jensen

Government agencies or public-oriented entities:

Austria Federal Ministry of Finance
Bank of Japan
Conference of State Bank Supervisors
Congress (House & Senate)
Consumer Financial Protection Bureau
European Central Bank
Federal Housing Finance Agency
National Credit Union Administration
Treasury Department
White House


UPDATE - Grayson Asks for Investigation into Fed leak


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Reader Comments (8)

Don't see what the problem is here?
Apr 11, 2013 at 11:19 PM | Unregistered CommenterSKINFLINT
Any employees who received the minutes could have passed the info on to headquarters who could then have acted on the information in the markets before it was public knowledge.

And I'm sure that's exactly what happened.
Apr 11, 2013 at 11:28 PM | Registered CommenterDailyBail
I believe it was an accident, as the Fed says, but it's still a huge fuck-up.
Apr 11, 2013 at 11:29 PM | Registered CommenterDailyBail
Nothing in politics is an accident. FDR. Of course it was inside info. That sharp stabbing pain in your backside was the result of being mugged and punched in the kidneys.
Apr 11, 2013 at 11:38 PM | Unregistered CommenterSKINFLINT
Yeah, I couldn't tell if you were being sarcastic in your first comment.
Apr 11, 2013 at 11:45 PM | Registered CommenterDailyBail
* most members of Ben's group said they want QE to continue, and some said they want MORE!!!

You publish Bloomberg's misdirection and propaganda!!!

Bloomberg is "them", those who work to crush Gold!
Apr 12, 2013 at 1:28 AM | Unregistered CommenterMac

Bloomberg is reporting news. They are not trying to crush gold. It's pretty obvious to most market observers that the economy is picking up some steam here with stocks making new highs and housing in recovery mode in some states. Everyone understands that QE will end this year. Dallas Fed Prez Richard Fisher basically said so the other day.

I expect gold will continue falling and test $1475 before any real rally.
Apr 12, 2013 at 2:27 AM | Registered CommenterDailyBail

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