… wait. Is that not how it’s supposed to go?
One conclusion you might draw from the tapes is that the regulators and the banks had a very different conception of what social practice they were engaged in.
Goldman was helping Santander play a game against its regulators, while the New York Fed just wanted to be friends with Goldman and not make too much trouble.
It certainly makes it easier to win a game if the other side doesn’t know it’s playing. more> http://tinyurl.com/lq9l238