Friday, March 19, 2010

U.S. Court of Appeals Rules Fed Must Disclose Bailout Records

by Bill McBride on 3/19/2010 01:05:00 PM

Just an update ....

From Bloomberg: Federal Reserve Must Disclose Bank Bailout Records (ht jb)

The U.S. Court of Appeals in Manhattan ruled today that the Fed must release records of the unprecedented $2 trillion U.S. loan program ... The ruling upholds a decision of a lower-court judge, who in August ordered that the information be released.
The opinion may not be the final word in the bid for the documents, which was launched by Bloomberg LP, the parent of Bloomberg News, with a November 2008 lawsuit. The Fed may seek a rehearing or appeal to the full appeals court and eventually petition the U.S. Supreme Court.
It will be interesting to see these documents, but it might not be for a few more years.