It looks like you're using an Ad Blocker.

Please white-list or disable AboveTopSecret.com in your ad-blocking tool.

Thank you.

 

Some features of ATS will be disabled while you continue to use an ad-blocker.

 

Fed Must Release Reports on Emergency Bank Loans, Judge Says

page: 1
7

log in

join
share:

posted on Aug, 25 2009 @ 09:22 PM
link   

Fed Must Release Reports on Emergency Bank Loans, Judge Says


bloomberg.com

The Federal Reserve must make records about emergency lending to financial institutions public within five days because it failed to convince a judge the documents should be exempt from the Freedom of Information Act.
(visit the link for the full news article)




posted on Aug, 25 2009 @ 09:22 PM
link   

Manhattan Chief U.S. District Judge Loretta Preska rejected the central bank’s argument that the records aren’t covered by the law because their disclosure would harm borrowers’ competitive positions.


This is a step in the right direction. I'm sure they will try to find some way out of releasing the info (probably an appeal), but this is a small victory for those of us who seek transparency from the Federal Reserve, and the government in general. This judge made the right call on this one.


TA

bloomberg.com
(visit the link for the full news article)



posted on Aug, 25 2009 @ 09:51 PM
link   
Definatley good news. However we need to be mindful and keep an eye out for any "executive orders" snuck in to keep the records from coming out. Someone might site "dangerous and destructive effect on the economy".



posted on Aug, 25 2009 @ 10:05 PM
link   
reply to post by TheAssociate
 


Nice catch, starred and flagged.


Let's hope that it works and that the administration doesn't try to dismiss this or find some loophole "in the name of National Security" as it is most likely to happen.

The feds would rather bankrupt the Republic of the United States rather than make their dealings transparent, and the administration will go along with them most probably.



posted on Aug, 25 2009 @ 10:08 PM
link   
reply to post by ElectricUniverse
 




find some loophole "in the name of National Security"


That's what I'm figuring is going to happen, or as the person above you said, some executive order might be issued. They've got five days to comply, I'm sure they'll cook something up. Thanks for the replies, insight, stars and flags.


TA



posted on Aug, 25 2009 @ 10:44 PM
link   
Is that 5 business days or just 5 days period.
I was just curious.
Like said they will come up with some way out of this, I think a Judge had made a order something like this, about 6 months ago.



posted on Aug, 25 2009 @ 10:54 PM
link   
reply to post by googolplex
 


That particular article doesn't specify whether it's five days or five business days. Give me a few minutes and I'll try to find an answer (sleuthing requires caffeine, after all
).


TA

Edit:

I've searched a few more articles and watched a video on the topic and they all say "five days."

www.reuters.com...
online.wsj.com...
www.washingtonpost.com...



No indication of whether it's five business days or just five days. Sorry, I'll keep looking

[edit on 25-8-2009 by TheAssociate]



posted on Aug, 25 2009 @ 11:42 PM
link   
This is a step in the right direction. However, we should not get side-tracked from our goal. I think we need complete transparency of the fed's activities. We really do need to know what they are up to. At least this is a start. The fight isn't over yet though.



posted on Aug, 27 2009 @ 02:46 PM
link   
This is great news, but I don't see the Fed easily submitting to the five day deadline. They are going to try to find some way around the judge's proposal.

Three more days.



posted on Aug, 28 2009 @ 12:18 AM
link   
Well, we finally have the name of our enemy. An organization of 30 or so banks known as "The Clearing House Association".

Racketeering 101: Bailed Out Banks Threaten Systemic Collapse If Fed Discloses Information


And so the guns come out blazing. The Clearing House Association, another name for all the banks that were bailed out over the past year with the generous contributions from all of you, dear taxpayers, are now threatening with another instance of complete systemic collapse if Bloomberg's lawsuit is allowed to proceed unchallenged, let alone if any of the "Audit The Fed" measures are actually implemented.


Not even 2 days since the ruling and they are once again threatening "systemic collapse".




top topics



 
7

log in

join