The leak came from the inner sanctum of Federal Reserve Bank of New York. Inside the regal board room of the New York Fed in lower Manhattan, a director quietly telephoned a brokerage with inside information on interest-rate policy. It was 1984, and the director, Robert Rough, had been tipping off the New Jersey brokerage for more than a year. His story, a tale of clandestine calls and dishonest profits, stands alone: He was the first, and so far only, official indicted for divulging confidential Fed information. Some three decades later, the Federal Reserve is once again confronting uncomfortable questions about ... (full story)