State University of New York Institute of Technology
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New York Fede President CHides Investment Banks For "Deep-Seated Cultural & Ethical Failures"

William Dudley, New York Federal Reserve Bank president spoke out in a harsh language last week, he began to criticize some large financial institutions for displaying an apparent lack of respect of law, regulation, and the public trust. The Wall Street Journal claims that Dudley thinks that there are ethical failures at many financial institutions and that there is a critical problem that must be addressed. Dudley did not single out any institution, but was stern when saying that there was something wrong.


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