Sunday, August 30, 2009

Federal Reserve Board fights to keep its secrets

From WorldNetDaily
Warns disclosing where money went would cause 'irreparable harm' Posted: August 29, 2009 ~ 12:25 am Eastern By Drew Zahn © 2009 WorldNetDaily The Federal Reserve Board, despite being ordered to disclose to whom it awarded roughly $2 trillion in discount "stimulus" loans, is fighting to keep the information under wraps as a protected "trade secret." Earlier this week, a U.S. district court judge rejected the Fed's argument that the names of borrowers are exempt from disclosure under the Freedom of Information Act and ordered the board to release the information by Monday, Aug. 31. The Fed's board of governors, however, has now filed a motion asking the judge to delay enforcement of the order, seeking time to appeal and arguing that disclosing which banks borrowed the funds could lead to a backlash from the banks' customers and stockholders. [READ ENTIRE STORY]
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