BUSINESS
05/19/2010 05:12 am ET | Updated May 25, 2011

Court Rules Fed Must Reveal Details Of Secret $2 Trillion Bank Loan Program

March 19 (Bloomberg) -- The Federal Reserve Board must disclose documents identifying financial firms that might have collapsed without the largest ever U.S. government bailout, 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.

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