While the United states Armed Forces (private mercenaries) are stationed at 737 bases, in 130 nations around the world, defending “all freedom-loving people everywhere in the world,” Robert deV. Frierson, Deputy Secretary to the Federal Reserve Board of Governors (a Federal agency) that oversees the privately owned Federal Reserve System of (central) Banks, writes to Sarah Smith, Chief Accounting Officer for Goldman Sachs, notifying her the Board’s decision that although GS’s status as an investment bank was changed to that of a commercial bank, in order that it might receive Federal bailout money, GS does not have to comply with the added strictures of lower leveraged investments and higher capitalization requirements.
[added 9/28/2021] Thanks to Freedom’s Phoenix for this entry.
Subsequent Events:
Authority:
“Law of the Jungle”
ccc-2point0.com/preface
References:
If GS Is A Commercial Bank, Why Do They Still Play By Investment Banking Rules (Grayson Congressional Letter Questions Bernanke)
dailybail.com/home/if-gs-is-a-commercial-bank-why-do-they-still-play-by-investm.html
GS VaR Request
www.docstoc.com/docs/8539176/GS-VaR-Request