Story on Fed leaks reminisces about firm that went bankrupt even though it had Fed decisions before they came out.
Bloomberg has a great story today recapping the history of leaks at the Fed. They go back to the early 1980s when New York Fed director Robert Rough was tipping Bevill, Bresler & Schulman about Fed discount rate decisions for two years. He was only caught because the firm later went bankrupt.
He was given six months in prison after a plea but stands as the only official ever prosecuted for leaking confidential information. The Fed is under pressure because whoever leaked information in late 2012 has yet to surface.
"Transcripts of FOMC meetings show discussions of at least five separate leaks between 1995 and 2009. None of those led to a leaker being named or pursued, or to anyone losing a job, said three former Fed officials."
