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The Federal Reserve and Goldman Sachs: M...

Hernandez, Morela,...

Case

The Federal Reserve and Goldman Sachs: Mike Silva

Hernandez, Morela; Parmar, Bidhan L.; Mead, Jenny

OB-1078 | Published November 24, 2015 | 9 pages Case

Collection: Darden School of Business

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Mike Silva, the NY Fed's senior supervisory officer for Goldman Sachs, is having trouble with Carmen Segarra, a recently hired bank examiner who reports to Silva. The two disagree about whether Goldman Sachs has a viable overall conflict-of-interest policy; Silva says "yes," and Segarra says "no." Segarra's communication style?aggressive and frank?has irritated both Silva and others in their department, although an independent report had been critical of the NY Fed for being too cozy with the banking institutions it regulated. The tension between Silva and Segarra has reached a breaking point, and Silva must decide how to handle Segarra and whether to fire her. A teaching note accompanies this case and details how it is taught in Darden's ethics and leadership courses.

1. Introduce students to the challenges of responsible leadership. 2. Understand the complex dynamics of "leading up." 3. Explore the tradeoffs leaders are required to make to balance different stakeholder interests, both within and outside organizations.