Federal Reserve Must Disclose Bank Bailout Records
Submitted by nelsonwinters on Fri, 03/19/2010 - 11:24
From Bloomberg.com...
March 19 (Bloomberg) -- The Federal Reserve Board must disclose documents identifying financial firms that might have collapsed without the largest ever U.S. government bailout, a federal appeals court said.
The U.S. Court of Appeals in Manhattan ruled today that the Fed must release records of the unprecedented $2 trillion U.S. loan program launched primarily after the 2008 collapse of Lehman Brothers Holdings Inc. The ruling upholds a decision of a lower-court judge, who in August ordered that the information be released.
http://www.bloomberg.com/apps/news?pid=20601087&sid=a2rzjENZQV5k
Another Tack
I suppose the Fed could argue it isn't a federal agency...
Obviously, it has an agency relationship in the legal sense of the word (acting on behalf of the government), but it isn't "officially" a government agency.
Go to bed with dogs, wake up with fleas. They're walking a fine line.
IMissLiberty
have you watched any of these
have you watched any of these cases? they're like cartoons. the fed just keeps hiring different lawyers to "appeal" to the judges until they win the case.
And they will keep doing that. I'm confident that this one is
headed to the U.S. supreme court. What happens when it gets there, I suspect, is going to have very little to do with the Constitution. Who knows, they may even decline to hear the case. Of course, I'm glad that the circuit court of appeals upheld the notion that the Fed should disclose their records.
_________________________________________
"An economy built on fiat money is a society on its way to ashes."
Bump
they will probably keep appealing but it makes
them less...appealing...
Just launched http://iroots.org/
Activism Training.
Bump
This needs to stay top of mind. There are a lot of business leaders and polticians who may be gnashing their teeth about this ruling.