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Sapere Aude
Join Date: Jun 2001
Casino cash: $18037
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Supreme Court: Fed must release all bailout data within 5 days
BREAKING: Supreme Court Rules Fed Must Release All Bailout Data
March 21 (Bloomberg) -- The Federal Reserve must disclose details of emergency loans it made to banks in 2008, after the U.S. Supreme Court rejected an industry appeal that aimed to shield the records from public view. The justices today left intact a court order that gives the Fed five days to release the records, sought by Bloomberg. 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." “The board will fully comply with the court’s decision and is preparing to make the information available,” said David Skidmore, a spokesman for the Fed. The order marks the first time a court has forced the Fed to reveal the names of banks that borrowed from its oldest lending program, the 98-year-old discount window. The disclosures, together with details of six bailout programs released by the central bank in December under a congressional mandate, would give taxpayers insight into the Fed’s unprecedented $3.5 trillion effort to stem the 2008 financial panic. “I can’t recall that the Fed was ever sued and forced to release information” in its 98-year history, said Allan H. Meltzer, the author of three books on the U.S central bank and a professor at Carnegie Mellon University in Pittsburgh. Read entire story at Bloomberg: http://www.bloomberg.com/news/2011-0...ts-appeal.html |
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#2 |
Supporter
Join Date: Aug 2000
Location: Spink, SD
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This could get fun.
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#3 |
Make America Great Again
Join Date: Oct 2006
Location: Springpatch
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I will almost guarantee it still won't happen, sadly.
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#4 |
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Join Date: Dec 2002
Location: Iowania
Casino cash: $47396339
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who are they going to appeal to? Intergalactic Court?
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#5 |
Plebian
Join Date: Feb 2011
Casino cash: $5000
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#6 |
Sapere Aude
Join Date: Jun 2001
Casino cash: $18037
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I wonder if they'll get cute and try to redact things.
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Ehyeh asher ehyeh. Free Predictions: 2008: http://www.chiefsplanet.com/BB/showt...1&#post3690801 2012: http://www.chiefsplanet.com/BB/showt...43#post9079043 2016: http://www.chiefsplanet.com/BB/showt...8#post12475268 |
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#7 |
Supporter
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Location: Spink, SD
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#8 |
Sapere Aude
Join Date: Jun 2001
Casino cash: $18037
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Ehyeh asher ehyeh. Free Predictions: 2008: http://www.chiefsplanet.com/BB/showt...1&#post3690801 2012: http://www.chiefsplanet.com/BB/showt...43#post9079043 2016: http://www.chiefsplanet.com/BB/showt...8#post12475268 |
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#9 |
Seeking the Truth daily
Join Date: Jan 2006
Location: In the Country in MO
Casino cash: $34409
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And as a result....
The kookies who see evil in the Fed will find evil to point to and say Look!!!!Evil. The rest of the people will see Banks borrow from the fed like they have for 98 years and they will se names they recognize...it is supposed to work that way....Kookies will go Look Banks Borrowed!!!OMG Talk about a non event with totally predicatble results.
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Frazod to KC Nitwit..."Hey, I saw a picture of some dumpy bitch with a horrible ****tarded giant back tattoo and couldn't help but think of you." Simple, Pure, Perfect. 7/31/2013 Dave Lane: "I have donated more money to people in my life as an atheist that most churches ever will." Come home to Jesus Dave. Come home. |
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#10 |
Supporter
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#11 |
Banned
Join Date: Dec 2009
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#12 | ||
Long Live John Galt
Join Date: Nov 2008
Location: On the edge of reason
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Quote:
then i guess i'm kookie.
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#13 |
Banned
Join Date: Dec 2009
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#14 | |
Sapere Aude
Join Date: Jun 2001
Casino cash: $18037
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Quote:
One of the dopier responses this news is sure to attract. I think that you'd be wise to wait for the release of the information before making any judgements.
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Ehyeh asher ehyeh. Free Predictions: 2008: http://www.chiefsplanet.com/BB/showt...1&#post3690801 2012: http://www.chiefsplanet.com/BB/showt...43#post9079043 2016: http://www.chiefsplanet.com/BB/showt...8#post12475268 |
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#15 |
Make America Great Again
Join Date: Oct 2006
Location: Springpatch
Casino cash: $33532
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There have been numerous decisions where the executive branch has gone on to provide only half-measures to satisfy a judicial order.
George W. Bush and indefinite detention, for example. |
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