Fed Loses Bid for Review of Bailout Disclosure Ruling

[Galileo]

Fed Loses Bid for Review of Bailout Disclosure Ruling

An appeals court refused to reconsider a decision compelling the Federal Reserve Board to release do ents identifying banks that might have failed without the U.S. government bailout.

The full U.S. Court of Appeals in New York, in a docket entry dated Aug. 20, denied a May 4 request by the Fed to review a three-judge panel’s unanimous March 19 decision requiring the agency to release records of the unprecedented $2 trillion U.S. loan program begun primarily after the 2008 collapse of Bear Stearns Cos.

Unless the court stays its decision, the Fed will have seven days to disclose the do ents. In the event of a stay, the central bank and the Clearing House Association LLC, an organization of 20 commercial banks that joined the Fed in defense of the lawsuit, will have 90 days to pe ion the Supreme Court to consider their appeal. The Clearing House has already said it will ask the high court to rule on the case.

MORE:

http://www.bloomberg.com/news/2010-0...-bailouts.html

This is huge news folks! We're talkin' about $2 trillion dollars of secret transactions in a gigantic revere-Robin Hood looting scheme. It's time to wake up.

[Winehole23]

This is huge news folks! We're talkin' about $2 trillion dollars of secret transactions in a gigantic revere-Robin Hood looting scheme. It's time to wake up.

The Bloomberg suit has been kicking around for a little over a year.

Maybe you just woke up, hoss. That don't necessarily mean we've all been asleep, too.