Well, I joked first thing this morning about a Friday doc-dump, and (as commentor Cat pointed out) then this happened, per Annie Lowrey at NYMag:
ProPublica and “This American Life” are out with a blockbuster story, so blockbuster they got none other than Michael Lewis to tease it. It is the tale of one Carmen Segarra, a former regulator for the Federal Reserve Bank of New York. A compliance specialist, Segarra was embedded in Goldman Sachs to ensure that the megabank followed the rules.
For instance, in an incident that seems to have contributed to Segarra’s firing less than a year after she started on the job, she questioned whether Goldman had an adequate conflict-of-interest policy, ultimately determining that it did not. Her superiors pressured her to change her finding. Soon after, they canned her.
Of course, Goldman strongly disputes Segarra’s version of events, as does the New York Fed. And of course, Segarra is not an impartial observer — she’s a disgruntled former employee. But the brilliant thing is that we do not have to take her word for any of it. Shocked by what she saw, Segarra snuck a recording device into work. There are two days’ worth of tape supporting her version of events…
There will, I hope, be a lot more discussion about this over the weekend and into next week…
Apart from confirming all our worst fears about the new Gilded Age, what’s on the agenda for the start of the weekend?