Senator threatens Dudley’s job over Fed chief’s banking ties

A top banking regulator criticized for greasing the so-called revolving door between the🅰 government and Wall Stওreet might be forced to take a spin himself.

William Dudley, the president of the Federal Reserve Bank of New York, had his job threatened by a Senate Democrat who grilled him over whet♉her his agency kowtowed to bigཧ banks.

Sen. Elizabeth Warren (D-Mass) lashed out at Dudley for𒁏 failing to reform the New York Fed’s culture aౠnd going easy on the Wall Street banks he’s supposed to regulate.

“You need to fix it, Mr. Dudley, or we need to get someone who will,🌳” Warren (D-Mass.) watchdog on Friday during a hearing held by the Senate Subcommittee on Banking,🐟 Housing and Urban Affairs.

The hearing came after one of Dudley’s former employees, Carmen Segarra,🐼 leaked 46 hours of secret recordings suggesting that Fed regulators refused to stand up to Goldman Sachs when it came to what one regulator called a “shady” deal.

“I don’t think anyone sho📖uld question our motives 🌺or what we’re trying to accomplish,” Dudley said after the Segarra tapes were played by

Segarra, who was in the audience during Friday’s Senate hearing, wasn’t called to teᩚᩚᩚᩚᩚᩚ⁤⁤⁤⁤ᩚ⁤⁤⁤⁤ᩚ⁤⁤⁤⁤ᩚ𒀱ᩚᩚᩚstify. The former bank examiner for the New York Fed is suing for wrongful termination.

The hearings came less than two days after Goldman fired an employee who used to wo🐼rk for the NY Fedไ for improperly obtaining confidential information from a former Fed colleague.

Goldman and the New York Fed fired their respectiv♈e employees and said they have a “zero tolerance” policy for such infractions.

Warren spent the most time grilling Dudley, who has led the most powerful of the Fed’s ꧒regional banks for six years and is himself a former Goldman employee.

While Dudley has pushed banks to reform their risk-taking culture, starting with top executives, Warren said, he’s also res😼isted changing how the Fed operates.

“Are you hol𝓰ding up a mirror to your own behavior when you say that no one s🦋hould question your behavior or what you’re trying to accomplish?” Warren asked.

Dudley, who worked at Goldman for more than 20 yea🦩r♌s, denied that there were any real problems with the NY Fed.

“I🐻 don’t think we have serious cultural problems to the same degree,” Dudley said.

He also took issue with the s🅠uggestion that the Segarra tapes exposed lax oversight at the Fed.

“I don’t accept the characterization that those tapes show that the Fed Reserve is not working cor𒁃rectly,” he added.

“There are 46 hours of tapes. There was about🦄 10 minut♎es of those tapes that were released.”