The independent investigative journalistic outfit ProPublica reports that when Carmen Segarra, a lawyer who worked as an examiner at the Federal Reserve Bank of New York, looked into whether investment banks were following the rules that enabled them to avoid conflict of interest problems in their dealings with their clients, she determined that banking giant Goldman Sachs had a problem in that they had not only not put into place the required safeguards, they didn’t seem to even feel the need to do so and mixed the functions in a way that prevented oversight to ensure that no conflict of interest occurred. [Read more…]