Fed Shouldn't Reveal Crisis Loans, Banks Vow to Tell High Court

Fed Shouldn't Reveal Crisis Loans, Banks Vow to Tell High Court

www.bloomberg.com

The biggest U.S. commercial banks will take their fight against disclosure of Federal Reserve lending in 2008 to the Supreme Court if necessary, the top lawyer for an industry-owned group said.

Continued legal appeals will delay or block the first public look at details of the central bank’s $2 trillion in emergency lending during the 2008 financial crisis.

(visit the link for the full news article)

This is amazing. Essentially these banks are suggesting that tax payer funded bail-out programs are not subject to the Freedom of Information Act. They are also suggesting that the Fed is not subject to public scrutiny (that is nothing new).

This will play out with the banks losing this case and we will then see how deep the corruption this TARP business was.

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

see this is a prime example of BS.

Hiding the fact that a bank is having problems
and giving them money under the table
is no different than insider trading on
Wall Street. It's illegal and needs to be
punished.

[edit on 14-4-2010 by boondock-saint]

While you are correct that this information should be made public, it will never happen. The corruption runs too deep and would result in a run on the banks and calls for mass jailings. The PTB will prevent this information from ever seeing the light of day.

reply to post by firstcallbrad


where is wikileaks when u need them??? lol

we need another shady video of Fed Reserve
in a meeting doing this illegally and get it posted
on the internet and get it viral.

These crooks need to go down.
They are the ones keeping us down.
The only way for us to breathe
is to take care of this BIG problem.