by Pam Martens and Russ Martens
Wall Street on Parade
The culture of Wall Street has now completely engulfed the Fed: it’s legal if you can get away with it.
For more than five years the President of the Dallas Fed, Robert Kaplan, was trading like a hedge fund kingpin in “over $1 million” transactions in S&P 500 futures while refusing to follow the requirements of the Fed’s financial disclosure form and list the specific dates of his purchases and sells so that the transactions could be examined for whether he had inside information from the Fed at the time. That information is now as much as five years overdue to the American people and we have asked the Dallas Fed to provide it promptly.
The Dallas Fed further hampered the free press in America from doing its job by refusing to answer our simple question as to whether Kaplan was shorting stocks or S&P 500 futures during the pandemic crisis in 2020.