Why Do Former Goldman Sachs Bankers Keep Landing Top Slots at the Federal Reserve?

thenation.com It’s hardly a secret that the halls of government are filled with graduates of Goldman Sachs, the controversial Wall Street investment bank. But the revolving door between Washington and Goldman has been spinning a little faster of late, depositing three of the bank’s alumni into top slots at the Federal Reserve in recent months. This should concern anyone with a commitment to democracy, transparency, and a government free of corporate influence—and it should prompt swift action from Federal Reserve Chair Janet Yellen, who has the power to stop dubious appointments and can exercise her authority to reform how Fed leaders are selected. During the last year, three vacancies have opened up to head regional Federal Reserve banks around the country. One by one, all three of the spots have gone to former insiders from Goldman Sachs.