Modbert
Daydream Believer
- Sep 2, 2008
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Fed's Court-Ordered Transparency Shows Americans `Have a Right to Know' - Bloomberg
Great news.
A Supreme Court order that forces unprecedented disclosures from the Federal Reserve ended a two- year legal battle that helped shape the publics perceptions of the U.S. central bank.
The high court yesterday let stand a lower-court ruling compelling the Fed to reveal the names of banks that borrowed money at the so-called discount window during the credit crisis. The records were requested by Bloomberg LP, the parent company of Bloomberg News. In July, Congress passed the Dodd-Frank law, which mandated the release of other Fed bailout details.
Fed Chairman Ben S. Bernanke now must finally understand that this money doesnt belong to the Federal Reserve, it belongs to the American people and the American people have a right to know how their taxpayer dollars are being put at risk, said Senator Bernard Sanders, a Vermont Independent who wrote Fed transparency provisions in Dodd-Frank.
Great news.