Jon Hilsenrath has another take on the transcripts of the FOMC meetings from 2008 that were released Friday, this time looking at who were the winners, and who were the losers.
The biggest winner was William Dudley, head New York Fed’s markets group:
He got it. Mr. Dudley, now the New York Fed president, ran the New York Fed’s markets group in 2008. His presentations to the Fed’s policy making Federal Open Market Committee throughout the crisis were thorough and raised the right red flags.
The biggest loser, says Hilsenrath, was then New York Fed President Timothy Geithner:
He was supposed to be the Fed’s eyes and ears on Wall Street, but events spun out of his control. His commentary at meetings lacked Mr. Dudley’s precision and he often appeared engrossed in disagreements with the Fed’s policy hawks.
More at Wall Street Journal: Geithner Among Fed Losers in 2008, Dudley Among Winners
