Huffpost Business

Federal Reserve, Bloomberg Lawsuit: Bank Fights To Keep Details Of $2 Trillion Bailout Program Secret

Posted: Updated:

Jan. 11 (Bloomberg) -- The Federal Reserve will ask a U.S. appeals court to block a ruling that for the first time would force the central bank to reveal secret identities of financial firms that might have collapsed without the largest government bailout in U.S. history.

The U.S. Court of Appeals in Manhattan, after hearing arguments in the case today, will decide whether the Fed must release records of the unprecedented $2 trillion U.S. loan program launched after the 2008 collapse of Lehman Brothers Holdings Inc. In August, a federal judge ordered that the information be released, responding to a request by Bloomberg LP, the parent of Bloomberg News.

Bloomberg argues that the public has the right to know basic information

Read the whole story at

Around the Web

Court Orders Fed to Disclose Emergency Bank Loans (Update2 ...

Federal Reserve-Bloomberg Suit: Fed Argues That Disclosing ...

The Prudent Investor: Bloomberg Picks a Fight With the Federal Reserve

Federal Reserve Trying to Preserve its Bailout Secrets

Federal Reserve Seeks to Block Release of US Bailout Secrets