HBR Explains Why The Fed Is A Weak Regulator

This article offers an explanation for the NY Fed's weak response to some of the issues between it and Goldman Sachs that are described below.  It makes two comments that are worthwhile.  Goldman has no conflict of interest policy because its business model depends upon advising two parties on different sides of the same deal.  That is how it makes large profits.  The point is that we should not accept regulatory capture because we believe that nothing can be done about.