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View Full Version : BREAKING: Supreme Court Rules Fed Must Release All Bailout Data



WarDog
03-21-2011, 07:53 PM
A huge win for transparency.

Statement from Matthew Winkler, editor in chief of Bloomberg News:

As a financial crisis developed in 2007, "The Federal Reserve forgot that it is the central bank for the people of the United States and not a private academy where decisions of great importance may be withheld from public scrutiny. The Fed must be accountable to Congress, especially in disclosing what it does with the people’s money."

http://dailybail.com/home/breaking-supreme-court-rules-fed-must-release-all-bailout-da.html
anaconda
03-21-2011, 08:00 PM
So all liquidity to foreign central banks will be disclosed? How come we haven't heard from RP on this? Or, is "bailout" money different from "Fed Liquidity?"
TCE
03-21-2011, 08:03 PM
So all liquidity to foreign central banks will be disclosed? How come we haven't heard from RP on this? Or, is "bailout" money different from "Fed Liquidity?"

This is the money they lent out in the midst of the financial crisis, not everything. It isn't an audit, but it's a small snapshot, so no, any lending to foreign banks or entities will likely not be reported. Unsurprisingly, according to the Bloomberg version of this article, the Obama Administration wanted the Fed's lending kept secret.
sailingaway
03-21-2011, 08:08 PM
Saw that. Glad they got it right. Hope they used the right reasoning.
sailingaway
03-21-2011, 08:09 PM
This is the money they lent out in the midst of the financial crisis, not everything. It isn't an audit, but it's a small snapshot, so no, any lending to foreign banks or entities will likely not be reported. Unsurprisingly, according to the Bloomberg version of this article, the Obama Administration wanted the Fed's lending kept secret.

Last week they and IMF both ANNOUNCED they were meddling in the foreign currency markets with OUR reserves to force down the yen.
QueenB4Liberty
03-21-2011, 08:16 PM
Good!
messana
03-21-2011, 08:26 PM
Finally they got something right.
Legend1104
03-21-2011, 08:33 PM
At least, every once in a while, the Supreme Court is good for something.
DamianTV
03-22-2011, 12:45 AM
Bump for Transparency!
fj45lvr
03-22-2011, 03:37 AM
how would anyone know whether they released the correct info or even all the info??? what a farce.
DXDoug
03-22-2011, 04:33 AM
the thought of the fed still in existence shuld make everyone vote Ron Paul.