March 19, 2010

More Transparency!

Federal Reserve Must Disclose Bank Bailout Records
The Federal Reserve Board must disclose documents identifying financial firms that might have collapsed without the largest U.S. government bailout ever, a federal appeals court said.

The U.S. Court of Appeals in Manhattan ruled today that the Fed must release records of the unprecedented $2 trillion U.S. loan program launched primarily after the 2008 collapse of Lehman Brothers Holdings Inc. The ruling upholds a decision of a lower-court judge, who in August ordered that the information be released.

Because the Obamites naturally assume we have no right to know exactly what they did with $2 TRILLION of our money.

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