Federal Reserve Seeks to Protect U.S. Bailout Secrets

[Soul Crusher]

Federal Reserve Seeks to Protect U.S. Bailout Secrets
 Source: Bloomberg

Jan. 11 (Bloomberg) -- The Federal Reserve asked a U.S. appeals court to block a ruling that for the first time would force the central bank to reveal secret identities of financial firms that might have collapsed without the largest government bailout in U.S. history.

The U.S. Court of Appeals in Manhattan will decide whether the Fed must release records of the unprecedented $2 trillion U.S. loan program launched after the 2008 collapse of Lehman Brothers Holdings Inc. In August, a federal judge ordered that the information be released, responding to a request by Bloomberg LP, the parent of Bloomberg News.

“This case is about the identity of the borrower,” said Matthew Collette, a lawyer for the government, in oral arguments today. “This is the equivalent of saying ‘I want all the loan applications that were submitted.’”

Bloomberg argues that the public has the right to know basic information about the “unprecedented and highly controversial use” of public money. Banks and the Fed warn that bailed-out lenders may be hurt if the documents are made public, causing a run or a sell-off by investors. Disclosure may hamstring the Fed’s ability to deal with another crisis, they also argued. The lower court agreed with Bloomberg.

...

Read more: http://www.bloomberg.com/apps/news?pid=20601110&sid=aEf...  

________________________ ______________________

Unreal.  Its so blatant now!

Mastercard knows when I spend $100 out of my zip code yet they cant reveal this?

[War-Horse]

I cant even get to thinking about this walstreet bailout mess while mainstreet suffers.   They can shove those bonuses up their ass and choke on it.     And yes I blame Obama and geithner for this crap!!   Major mess up on their part.

[Skeeter]

Good interview. I reserved a copy of The Creature From Jeckyll Island from the library and can't wait to read it.

[Soul Crusher]

Good interview. I reserved a copy of The Creature From Jeckyll Island from the library and can't wait to read it.

I promise you have never read anything like this before.  Its mind blowing and depressing but really answers a lot questions you may have about a lot of stuff.

I have never read a book like this before that tied up so many loose ends.

[Soul Crusher]

[War-Horse]

Dylans got some cajones.  Fun to watch.

[GigantorX]

I promise you have never read anything like this before.  Its mind blowing and depressing but really answers a lot questions you may have about a lot of stuff.

I have never read a book like this before that tied up so many loose ends.

Just ordered it on amazon.

[Soul Crusher]

Just ordered it on amazon.

Cool. Almost every reviewer said the same thing.  It shocked me at first and now is outright maddening knowing the lies thay have been told.

[Skeeter]

I promise you have never read anything like this before.  Its mind blowing and depressing but really answers a lot questions you may have about a lot of stuff.

I have never read a book like this before that tied up so many loose ends.

First learned about it from the Zeitgeist documentaries but I wanted to learn more for my self. I bought a copy of John Perkin's book "Confessions of an Economic Hitman" and gave it to my father for Christmas. I'll probably sneak it away from him and give it a read when he's done with it.