(Jan 11, 2010 lasted update on bloomberg.com) Bloomberg LP vs Board of governors of the federal Reserve System:
Bloomberg LP asked U.S. Court of Appeals in Manhattan to force the Federal Reserve to release records of the unprecedented $ 2 trillion U.S. loan program launched after the 2008 collapse of Lehman Brothers Holdings Inc. The lawsuit is based on the U.S. Freedom of Information Act, which requires federal agencies to make government documents available to the press and the public, according to the complaint. Bloomberg argues that the public has the right to know basic information about the unprecedent and highly controversail use of public money. The Federal Reserves System argued that disclosure of highly sensitive documents of daily lending reports, threathens to stigmatize lenders and caused the severe and irreparable competitive injury. This is a on going battle between the two. Soon this war will end up at the Supreme Courts where as a judge will make the final dicussion on this case.
Two links that farther dicuss this topic :
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=a4PnUdySIink#
http://www.youtube.com/watch?v=TGET8ySKmDM
Bloomberg LP asked U.S. Court of Appeals in Manhattan to force the Federal Reserve to release records of the unprecedented $ 2 trillion U.S. loan program launched after the 2008 collapse of Lehman Brothers Holdings Inc. The lawsuit is based on the U.S. Freedom of Information Act, which requires federal agencies to make government documents available to the press and the public, according to the complaint. Bloomberg argues that the public has the right to know basic information about the unprecedent and highly controversail use of public money. The Federal Reserves System argued that disclosure of highly sensitive documents of daily lending reports, threathens to stigmatize lenders and caused the severe and irreparable competitive injury. This is a on going battle between the two. Soon this war will end up at the Supreme Courts where as a judge will make the final dicussion on this case.
Two links that farther dicuss this topic :
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=a4PnUdySIink#
http://www.youtube.com/watch?v=TGET8ySKmDM
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