Federal Reserve Lost in Court - Must Disclose Bank Bailout info

Discussion in 'Stock Market' started by FireFly, Mar 19, 2010.

  1. FireFly
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    Results of a FOIA lawsuit by Fox News & Bloomberg - Federal Reserve Must Disclose Bank Bailout Records
     
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  2. uscitizen
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    Good News!
     
  3. Modbert
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    Modbert Daydream Believer Supporting Member

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    $6a010536b4f156970c0120a7cb25ad970b-500wi.jpg

    Good News Everyone!
     
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  4. FireFly
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    The judge gave the Fed five days to turn over documents it told the reporters it located, including 231 pages of reports, and said it must look for more at the Federal Reserve Bank of New York, which runs most of the loan programs.

    The Fed must name the financial firms it lent to & disclose the amounts or the assets put up as collateral under 11 programs imposed during the deepest financial crisis.

    The Fed says that doing so might set off a run by depositors and unsettle shareholders.

    The market may be in for a wild ride when this info is released.

    Bloomberg - Court Orders Fed to Disclose Emergency Bank Loans
     
  5. uscitizen
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    Truth is best in the long run.
     
  6. Avatar4321
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    Avatar4321 Diamond Member Gold Supporting Member

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    And this comes in under the radar. This news is huge!
     
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  7. FireFly
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    [ame="http://www.youtube.com/watch?v=ST9UXzjm-zE"]Fed to Disclose Details - Bloomberg[/ame]
    [ame="http://www.youtube.com/watch?v=befj54Y0IVQ"]E-mails reveal N.Y. Fed told AIG to limit disclosure[/ame]
    [ame="http://www.youtube.com/watch?v=9ofGt4yeyv4&feature=related"]Former AIG CEO Hank Greenberg Dishes on Coverup[/ame]
    [ame="http://www.youtube.com/watch?v=vvhMZAG3VXU"]Fed Res has a policy to NOT disclose counter-parties PAID[/ame]
    [ame="http://www.youtube.com/watch?v=_vbrJa3-RK0&NR=1"]AIG Exc: Says Federal Reserve OK's Bonus[/ame]
    [ame="http://www.youtube.com/watch?v=T73DbJg2B-E&feature=related"]AIG's former CEO Hank Greenberg says US taxpayers screwed by AIG[/ame]
    [ame="http://www.youtube.com/watch?v=54v3WA3RC54&NR=1"]Greenberg: Federal Bailout of AIG has failed![/ame]
    [ame=http://www.youtube.com/watch?v=kOv-qbEZR8g]YouTube - DeMint amendment to audit Federal Reserve blocked[/ame]
    [ame="http://www.youtube.com/watch?v=lifeilnmi5k&NR=1"]Senate Blocks FED audit[/ame]
    [ame="http://www.youtube.com/watch?v=jpz4huFetSM"]Could release of Federal Reserve documents really cause panic?[/ame]
     
    Last edited: Mar 20, 2010
  8. KissMy
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    Rep. Barney Frank (D-Mass.), chairman of the House Financial Services Committee, said "The committee will be recommending abolishing Fannie Mae and Freddie Mac in their current form and coming up with a whole new system of housing finance ... That's the approach, rather than a piecemeal one."

    Finally Barney Frank admits the GSEs were the problem all along. Very little media coverage. The deception continues.

    [ame="http://www.youtube.com/watch?v=Y-2vl5Ow5ok&NR=1"]Banks Threatened into TARP[/ame]

    GSEs Not in Reform Bill. Fannie & Freddie will be abolished low key by the Democrats because they were the real cause of the crisis. Bank reform is a cover story.

    [ame="http://www.youtube.com/watch?v=IjL8MR_-jWY"]TARP rip-off, government lies and corruption[/ame]
     
    Last edited: Mar 22, 2010
  9. mayya555
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    Finally we'll see all that dodginess ;)
     
  10. jillian
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    I agree disclosure is generally best. But I'd hope you're not pleased by the fact that there may be a "wild ride".
     

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