ECB Hires ex-Goldman Banker And Vatican Auditor As Watchdog

Zero Hedge | 7/15/2019 | Staff
madalina09madalina09 (Posted by) Level 4
Click For Photo: https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/max_650x650/public/2019-07/ECB%20building.jpg?itok=W6aW-PT9

As one Goldmanite departs (i.e., Mario Draghi, whose term ends on October 31) another Goldmanite arrives at the ECB.

Now that Christine Lagarde (who had her share of run-ins with the French law especially her guilty conviction in 2016 over a €400MM payment to Bernard Tapie) has been picked to head Europe's central bank, the European Central Bank has hired Elizabeth McCaul, a former Goldman Sachs banker who later led an audit of the Vatican’s scandal-ridden bank, as one of its top banking supervisors, the bank said last week.

ECB - Representatives - Single - Supervisory - Board

She is one of three new ECB representatives on the Single Supervisory Board, which oversees the euro zone’s 114 largest banks according to Reuters.

Even more curious is that during her stint at Promontory, now owned by IBM, McCaul helped audit the Vatican’s bank during a clean-up ordered by Pope Francis in 2013 and also did consultancy work for the ECB during the set-up of the Single Supervisory Mechanism....
(Excerpt) Read more at: Zero Hedge
Wake Up To Breaking News!
Does it ever seem that life has become one long rerun?
Sign In or Register to comment.

Welcome to Long Room!

Where The World Finds Its News!