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The Fed Leak: Who is Brian J. Gross?

Posted by Larry Doyle on April 11, 2013 8:16 AM |

Do you believe that the leak of the Federal Reserve release, a full day before it was to be shared publicly, was a mere accident?

If so, I might caution you from opening e-mail solicitations you receive from individuals in Nigeria informing you that you are the beneficiary of millions of dollars from recently deposed warlords in that nation or other sub-Saharan locales.

I mean, come on. Major financial institutions including Goldman Sachs, JP Morgan Chase, Wells Fargo, The Carlyle Group and more are informed a full day in advance of what the Fed governors are thinking, and the American public is supposed to buy that as an accident?

If the individual at the center of this “accidental release” were a recent college graduate who should not have had exposure to the release in the first place but somehow sent it to his pals at major banks to show “Hey, look what I got”, then that might be explainable . . . but that is not the case here.

Who knew what, and when did he know it, and what did he do with it? Let’s navigate (and with props to ZeroHedge) review the career of Brian J. Gross, the individual implicated in this “accidental leak.”

Texas A&M University
BA, economics and history

Georgetown University Law Center, J.D.

Staff Counsel; The Hon. Phil Gramm

* Staff Counsel – Senate (1991-1998)
* Director of Communications – Senate (1985-1991)
* Legislative Assistant – House of Representatives (1982-1985)

Deputy Staff Director
U.S. Senate Committee on Banking, Housing and Urban Affairs

Director of External Communications
US Securities and Exchange Commission

Special Assistant to the Board
Federal Reserve Board
2

So, do you think this “accidental leak” was really an accident? Or perhaps the accident was the fact that somehow it was accidentally learned by those outside the circle of recipients.

Think that maybe, just maybe, Mr. Gross was trying to ingratiate himself with his clientele?

He signed off this particular email, which was reviewed by The Wall Street Journal:

“As always, please let us know if we may be of further assistance”

But of course . . . the “further assistance” is nothing more than the grease that keeps the revolving door between Wall Street and Washington so well oiled.

The rest of us should just continue to “bend over,” right?

Perhaps we may all fortuitously receive such accidental good fortune as receiving a Federal Reserve release a day in advance as we all “navigate accordingly.”

Larry Doyle

Isn’t  it time or overtime to subscribe to all my work via e-mail, an RSS feed, on Twitter or Facebook.

I have no business interest with any entity referenced in this commentary. The opinions expressed are my own. I am a proponent of real transparency within our markets so that investor confidence and investor protection can be achieved.

  • TD

    Larry,
    I love reading these posts. I may not agree with everything that is written but you challenge your readers like few other writers out there. Keep up the good work. Can’t wait for the book.
    TD

  • fred

    LD,

    Maybe Mr Gross “accidentally” hit the button when “revising” the Fed minutes to reflect the weak employment report and last weeks run up in the bond market.

    The “veiled threat” of an end to QE did the trick once again, treasury selloff with $$ moving into equities fueling a short squeeze.

    I’ll bet all the recipients of the early release got the trade right.

    • fred

      L1 should read: accidentally hit the SEND button.






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