Fed Urges Continued Secrecy on Banks in Bailout Programs
NEW YORK (Reuters) - The U.S. Federal Reserve asked a federal judge not to enforce her order that it reveal the names of the banks that have participated in its emergency lending programs and the sums they received, saying such disclosure would threaten the companies and the economy.
The central bank filed its request on Wednesday, two days after Chief Judge Loretta Preska of the U.S. District Court in Manhattan ruled in favor of Bloomberg News, which had sought information under the federal Freedom of Information Act.
Preska said the Fed failed to show that revealing the names would stigmatize the banks and result in "imminent competitive harm." The Fed asked the judge not to require disclosure while it readies an appeal.
"Immediate release of these documents will cause irreparable harm to these institutions and to the board's ability to effectively manage the current, and any future, financial crisis," the central bank argued.
It added that the public interest favors a delay, citing a potential for "significant harms that could befall not only private companies, but the economy as a whole" if the information were disclosed.
GET THE ROTTED THIEVES...
DON'T WE THE AMERICAN PEOPLE HAVE EVERY RIGHT TO KNOW WHO GOT OUR SLAVE MONEY???
FRACTIONAL RESERVE BANKERS ARE CAPITOLISTS ON THE WAY UP AND FULL-ON SOCIALISTS ON THE WAY DOWN...
TREADING ALL OVER OUR LIBERTIES IN BOTH GOOD TIMES AND BAD.
"We have allowed our nation to be over-taxed, over-regulated, and overrun by bureaucrats. The founders would be ashamed of us for what we are putting up with."
-Ron Paul
Judge puts Fed's bailout revelations on hold
http://www.reuters.com/article/ousiv/idUSTRE57R5BE20090828
How long would it take to audit the first 50-75 yrs?
This should not be a problem if they are so concerned about the present crisis. Am I correct in assuming we could at least get a look at the first 50 - 75 years? From what I have read and seen from the advocates of the fed they are concerned about today and tomorrow, so this as much says that they would not care about 97 years ago, right? I believe this in and of itself would make them fall so fast like they should. I feel this way because I do believe that they have suppressed so much in our other industries and waged perpetual war on humanity. All secret government agencies and the fed are one and the same. They have just grown into a monster throughout the World, in all industries and forms of government.
Gee, what a surprise!
I believe this development helps our cause however. It exposes what they'll do and how far they'll go to keep their actions secret, so we can adjust our strategy accordingly. It may also provide us with some ammunition to go back to those who have not yet signed on to HR1207.
I find it interesting how "irreparable damage" was of little concern previously, when discussing HR1207, a bill that would require release of the same information. Up to this point it was all about harm to Fed "independence" and "monetary policy". Frankly I'm surprised the Fed is taking this route rather than claim immunity to an FOIA request, as they did in the similar Fox case. Oh well, if this FOIA holds then why don't we flood the Fed with all kinds of FOIA requests?
Unless Ron Paul! -Lorax
I agree
It gives the impression that they're really very stupid and that they're simply trying to manipulate us (and that they fully expect that manipulation to work)
I'm sure they're intelligent in some ways, but they handle things so poorly and their position is one of such power - it boggles the mind how this thing grew so large and it exists without ANY sort of accountability at ANY stage.
No surprise
here.
The waiting game.
They are just trying to buy up some time to create false and fraudulent documents. That way the chances of angering the American people become lower.
If, and once the FED gets abolish one day. There should be an amendment of some sort, to prevent this from ever happening again. We must also take care, not to leave it out of our children's history and text books. These criminals have gotten away with this far too long by distorting history and manipulating us.
Wanna bet that she gets a
Wanna bet that she gets a call from the White House?
bank bailouts
Well, this debt finance is more than 100 years old. I remember reading an article about Benjamin Franklin's prosperity of the early 13 colonies in America, and how he gave away to British bankers the fact that they used colonial scrip - i.e. debt free currency. In 1674 the British Parliament enacted legislation to introduce DEBT CURRENCY as the ONLY legal currency, and this in turn quickly wiped out the American colonies prosperity.
Now back to the presence. As all money is debt, and banks are private businesses having to compete for profit in a world of artificial scarcity finance, one should not start the "blame ritual", because we ALL agreed to this diabolical finance system - and benefited somehow more or less.
We then must blame ourselves as well.
Without urgent monetary reform towards a debt free model, we surely gonna be as good as dead in the not so distant future.
It doesn't need a revolution, we just can carry on - BUT with one difference:
The Governments of nations can issue money as VALUE, i.e. spending it into wages and salaries, AND leaving it in circulation.
That is pretty much what the once prosperous colonies did in issueing colonial scrip.
Thanks for your interest.
m m m
m m m
Two corrections
Small correction: Money is not debt. Fiat money is credit, on the other side of the balance sheet.
Big correction: Allowing governments to print and spend fiat money directly into existence without even the pretext of it being borrowed from individuals or banks would make a very bad system immeasurably worse. Governments do not make very principled counterfeiters. Ask anyone from Zimbabwe. Their money is not worth a Continental.
Threat
How long before it is TRULY seen for what it REALLY is?
Who cares what they want?
Who cares what they want? They have been defrauding the American people for almost a century. An open audit is long overdue!
I would recommend that the court confiscate the passports of Federal Reserve officials. They may well be flight risks.
Yes, please wait while we "cook the books".
"We have to spend money to keep from going bankrupt"
Joseph Biden VP , USA
"Since 1789 the only government on Earth that has the power to crush the American people`s liberties across the board is the government of the United States"
Robert Higgs
Henchmen
The judge better be careful the fed don't sic the IRS on her?!?!
you can do that?
i didn't know a court ruling can be later appeal directly to the judge via letter a mere two days after???
the scam system is unraveling.
My closet case friend urges contiuned secrecy
about him being gay... But when the Federal Reserve Does it then we shouldn't crack jokes about Bernanke cross dressing and having group orgies with the village people because it's SERIOUS.
http://www.dailymotion.com/video/x2b1a0_village-people-ymca-...
Find out if you have a local militia - http://www.uaff.us/
Real Patriots for 9/11 truth -- http://patriotsquestion911.com/
I am an optimist and believe they are running scare because....
LIBERTY IS WHEN THE FEDERAL RESERVE BANK FEARS THE PEOPLE. ROFL!!!
"First they ignore you, then they laugh at you, then they attack you, then you win!"
GANDHI
"First they ignore you, then they laugh at you, then they attack you, then you win!"
GANDHI
Interesting...
I was wondering what manner their refusal would take...
They'll never release the requested info...
Give me control of a nation's money and I care not who makes the laws - Mayer Amschel Rothschild
Give me control of a nation's money and I care not who makes the laws - Mayer Amschel Rothschild
maybe they should do the the microsoft approach
just don't follow the judges order until the sitting president intervenes.