Federal Reserve Loses Bloomberg FOIA Lawsuit, Sensitive Disclosures Forthcoming

HUGE WIN! – Federal Reserve loses suit demanding transparency
This article was on www.dailypaul.com 8/25/09

‘NEW YORK (Reuters) – A federal judge on Monday ruled against an effort by the U.S. Federal Reserve to block disclosure of companies that participated in and securities covered by a series of emergency funding programs as the global credit crisis began to intensify.’
The outcome:

The Board’s Motion for Summary Judgment is DENIED, and Bloomberg’s Motion for Summary Judgment is GRANTED. Specifically:

1. The Board shall produce forwith the Remaining Term Reports within five business days of the date hereof;

2. The Board shall search forthwith records at the FRBNY that constitute “Records of the Board” within the meaning of 12 C.F.R. # 231.2(i)(1); and

3. The parties shall confer following their review of the results of the search and inform the Court by letter no later than September 14, 2009 how they propose to proceed.

blockquote taken from:
cfecon.blogspot.com

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~ by Roger Marques on August 25, 2009.

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