Archive for November, 2008

Fed Refuses to Disclose Identity of Recipients of $2 Trillion in Loans

Posted on November 11, 2008. Filed under: News post, Uncategorized | Tags: , , , |

via Bloomberg.com:
Worldwide

Nov. 10 (Bloomberg) — The Federal Reserve is refusing to identify the recipients of almost $2 trillion of emergency loans from American taxpayers or the troubled assets the central bank is accepting as collateral. [snip]

Bloomberg News has requested details of the Fed lending under the U.S. Freedom of Information Act and filed a federal lawsuit Nov. 7 seeking to force disclosure. [snip]

“You have to balance the need for transparency with protecting the public interest,” Talbott said. “Taxpayers have a right to know where their tax dollars are going, but one piece of information standing alone could undermine public confidence in the system.”

“Protecting the public interest” indeed. A thin screen.

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