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Federal Reserve Loses FOIA Case

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March 19, 2010 – Comments (8)

MarketWatch is reporting that the Fed has lost a Freedom of Information Act case brought by Bloomberg and that the Fed will have to release bank names and other data related to its lending.  Bloomberg also has the story.

The Fed may appeal the case further.  I think the only step left would be to take it to the Supreme Court.

No mention of any timeline for the release.

8 Comments – Post Your Own

#1) On March 19, 2010 at 11:44 PM, ralphmachio (27.69) wrote:

It is scheduled for release right before the next major correction and the riots. Or maybe it will cause a new rally. Who knows. 

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#2) On March 20, 2010 at 4:33 AM, APJ4RealHoldings (36.25) wrote:

well thanks for paying attention and double thanks for sharing here rd80!

the banking informational sourcve ;)

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#3) On March 20, 2010 at 11:00 AM, kstarich (30.22) wrote:

rd80

Thanks for the update.  It will happen, the investigation, by this August a major exposure.  I wrote a blog on the astrology of the fed last August Federal Reserve here.  The major hit to it happened last November, however it will take months before the full extent of this is known.

There is also going to be major unraveling within the Comex which also had a major hit to it's chart last November.  It has basically been taken over by certain individuals who as we can all see are keeping metal prices down.  There will be a complete dismanteling of it with audits this year. 

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#4) On March 20, 2010 at 11:12 AM, CajunRon50 (< 20) wrote:

Personally, I expect, in the long run, this will do more harm than good.  This has a mucy greater chance of abuse and misuse of information than it does public discovery of fraud and wrong doing.

As far as "the public" identifying "bad decisions", when I saw "Bubba" shoot his new LCD big screen TV with a rifle because the wrong sports team won, I no longer trust "the public" to have any more sense than Congress.

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#5) On March 20, 2010 at 12:17 PM, dbjella (< 20) wrote:

 CajunRon50 

I don't understand your argument.  Are you saying we are better left in the dark?  I don't want to be.  I don't you think you should either, but if we do get the information, then please feel free to not look at it.

There has to be some reason that Fed doesn't want this info out.  If it is harmless, then let it out.  If it dangerous, then let us know, so we can all make better decisions not just the priviledged. 

 

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#6) On March 20, 2010 at 8:27 PM, APJ4RealHoldings (36.25) wrote:

CajunRon50

So....when we have in-the-dark schemes that are at madoff levels (or well beyond), and all the public have all their savings in we should not allow for that discovery? hmm you say ofcourse not, because the public would be so enraged they'd take madoff out?  

i thought we live in a country of laws with a justice system? contracts are enforceable are they not? 

i must say, i disagree completely with your statements

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#7) On March 21, 2010 at 2:22 PM, Vet67to82 (< 20) wrote:

I read the articles ... and it seems the judge ruled the FED "could" release the requested info ... NOT that the FED "had" to.   Based on the number of banks that can "borrow and repay" (overnight)  money at any one time ... the information has to be mindboggling.  How many trees is that going to kill?

Does the PRESS have the computers and the savey to sort thru "information overload" or will the press just pick needles from the haystack and pointlessly bury us with "ifs and maybes" that we can't do anything about anyway?  

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#8) On March 22, 2010 at 12:59 PM, rd80 (97.55) wrote:

Vet67to82 - I read the articles to say the court ruling would require the Fed to release the information.  I don't have any insight beyond  what's in the articles.

Concur that this could be a mind boggling amount of information.

All - thanks for the comments.

 

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