Appeal to withhold bailout information denied

[Guerilla poster]

http://www.nytimes.com/reuters/2011/...-court.html?hp

hmmm, not heard this before. Will this be interesting? x

The Supreme Court let stand on Monday a ruling that the U.S. Federal Reserve must disclose details about its emergency lending programs to banks during the financial crisis in 2008.
The justices rejected appeals by a group representing major commercial banks of last year's ruling by a U.S. appeals court in New York that required disclosure of the lending records.
The Obama administration said the appeals should be denied. It said the financial overhaul law adopted last year set new standards on releasing information about emergency lending programs and the law required the disclosure in December of much of the data at issue in the cases.

[Rickson]

Yeah...we'll see.

Most of the good stuff has been shreded or deleted I'm sure.

[Rickson]

I finally read some of the statements and this one is pretty potent:

"As only Congress has the constitutional power to coin money, Congress delegates that power to the Fed and the Fed must be accountable to Congress, especially in disclosing what it does with the people's money."

[Dismal Science]

I guess the banks should have spent another $100 million on lobbying to make this go away.