Fed Governor Tarullo Openly Questioning Fed Regulatory Policy Towards Banks Benchmarks Moment In History

How times have changed.

It was nearly 16 short months ago when then CFTC Commissioner and Loud Reform Advocate Bart Chilton was publicly scolding the U.S. Federal Reserve for failure to disclose the major bank’s commodity positions. Back then, questioning anything relative to how the big banks or the Federal Reserve operated, shining light questionable maneuvers that the gods who were de-facto running U.S. economic policy perpetrated, appeared strictly verboten.

Fast forward to the rather frank congressional testimony of Federal Reserve Board Governor Daniel Tarullo as he singled out Morgan Stanley and Goldman Sachs over continued trading in commodities markets. A Fed official calling out Fed regulatory...