[13] On October 27, 2005 Friedman was asked to replace Brent Scowcroft as the Chairman of the President’s Foreign Intelligence Advisory Board.

[17] In his letter of resignation Friedman explains why: ‘Last Fall, after Goldman Sachs Group, Inc. became a bank holding company, I agreed to remain on the Board, pursuant to the waiver authority of the Board of Governors of the Federal Reserve System, to provide continuity during a time of financial market instability.

Today, although I have been in compliance with the rules, my public service motivated continuation on the Reserve Bank Board is being mis-characterized as improper.

[19] Friedman's resignation announcement came within an hour of the government's release of the 2009 stress tests for 19 U.S. financial institutions.

[22] Stephen Friedman is married to Barbara Benioff, chairwoman of the board of governors of Hebrew Union College.

The couple live on Fifth Avenue in Manhattan, and have three children: two daughters, Susan and Caroline, and a son, David Benioff.