Federal Reserve Seeks Delay in Disclosure of Emergency Lending


	Federal Reserve Seeks Delay in Disclosure of Emergency Lending

rmowery

8-28-2009 12:01 AM

51 views

tags:

bailout, banking, fdic, government

rmowery says:

This is such bullshit! That is our tax dollars and we as citizens having to work to put that $$ in deserve to know exactly where it went, how much, and how it was used.
"The Fed and U.S. banks would suffer irreparable harm if details of the loan programs were made public,......"

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/ea478457-4994-4432-8c60-2bd0b9e93843/9EC30226-0BBE-4086-B3B5-2574CEA9F67D/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.bloomberg.com/apps/news?pid=20601103&sid=a5bjqcBdkB48" href="http://www.bloomberg.com/apps/news?pid=20601103&sid=a5bjqcBdkB48" style="font-size: 11px;">www.bloomberg.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.bloomberg.com/apps/news?pid=20601103&sid=a5bjqcBdkB48"><SPAN class="news_story_title">Federal Reserve Seeks Delay in Disclosure of Emergency Lending </SPAN></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.bloomberg.com/apps/news?pid=20601103&sid=a5bjqcBdkB48"><P>     Aug. 27 (Bloomberg) -- The Federal Reserve asked a judge
yesterday to delay enforcement of her decision requiring the
central bank to identify companies in its emergency lending
programs.     </P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.bloomberg.com/apps/news?pid=20601103&sid=a5bjqcBdkB48"><P>Chief U.S. District Judge <A href="http://search.bloomberg.com/search?q=Loretta+Preska&site=wnews&client=wnews&proxystylesheet=wnews&output=xml_no_dtd&ie=UTF-8&oe=UTF-8&filter=p&getfields=wnnis&sort=date:D:S:d1">Loretta Preska</A> in Manhattan said
on Aug. 24 that the Fed had until Aug. 31 to disclose daily
reports on borrowing by banks and other financial institutions.
The central bank wants Preska to stay her order, made in a
<A target="_blank" href="http://www.usdoj.gov/oip/">Freedom of Information</A> Act lawsuit, until the U.S. Court of
Appeals in New York can act on an appeal that the Fed said it
intends to file.     </P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.bloomberg.com/apps/news?pid=20601103&sid=a5bjqcBdkB48"><P>The Fed and U.S. banks would suffer irreparable harm if
details of the loan programs were made public, according to the
central bank’s senior counsel, <A href="http://search.bloomberg.com/search?q=Yvonne+Mizusawa&site=wnews&client=wnews&proxystylesheet=wnews&output=xml_no_dtd&ie=UTF-8&oe=UTF-8&filter=p&getfields=wnnis&sort=date:D:S:d1">Yvonne Mizusawa</A>.     </P></blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/9EC30226-0BBE-4086-B3B5-2574CEA9F67D/blog/" title="blog or email this clip"><img src="http://content7.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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