posted on Feb, 23 2009 @ 08:10 AM
- Snippet from source:
"Bloomberg News asked the Federal Reserve Board to disclose the securities that the central bank is accepting from banks on behalf of taxpayers as
collateral for $1.5 trillion in loans to the banks, according to a November Bloomberg news report by Mark Pittman. Bloomberg News was stonewalled and
sued the Federal Reserve to get the documents.
Government Attic has posted some documents from the Federal Reserve relating to the Bloomberg request; they start a few pages into the document posted
Note that even documentation concerning the risk has been deemed a state secret.
There has been no change in direction at the Fed since then. It appears that the Federal Reserve is continuing its policy of incredible opacity
despite the instructions issued by President Obama in January.
In light of the amount of taxpayer money currently at risk, and the weakness of the rationales given for the secrecy, this may be one of the most
important government transparency issues ever addressed."