Tuesday, August 25, 2009

Could be interesting.

Court Orders Federal Reserve to Disclose Emergency Loan Details

The Federal Reserve must for the first time identify the companies in its emergency lending programs after losing a Freedom of Information Act lawsuit. Manhattan Chief U.S. District Judge Loretta Preska ruled against the central bank yesterday, rejecting the argument that loan records aren’t covered by the law because their disclosure would harm borrowers’ competitive positions.

Posted by flintster1994 @ 08:04 AM (691 views)
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One thought on “Could be interesting.

  • This is very interesting for the future. If the Fed now feels under scrutiny, then when the next crisis hits they will feel less confident to take on the problem assets of the banking system. This has the making of the meltdown that was just escaped last year.

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