Previously discussed Financial conflict of interest on the federal bench and stock trading by presidents of regional Federal Reserve Banks. Alternate headline – Is there any group of powerful people who bother to follow the rules?
The Wall Street Journal reported that 131 judges had an investment in one or many stocks of litigants who appeared in front of them.
Two presidents of regional Federal Reserve Banks were trading stocks during the tumultuous early months of the pandemic.
Two updates in the news recently. First, the situation with judges is worse than it appears. Second, restrictions have been placed on extremely senior staff of the Fed prohibiting them from owning individual stocks.
Wall Street Journal – 10/21/21 – Fed Imposes New Restrictions on Officials’ Investment Activities – The new rules will apply to the seven governors sitting on the board of the Federal Reserve, the 12 presidents of the regional Federal Reserve Banks, and an unspecified number of senior staff who work with the rate-setting committees.…