Macrobius
03-05-09, 09:03
http://globaleconomicanalysis.blogspot.com/2009/03/top-secret-musings-and-other-economic.html
Source: http://www.bloomberg.com/apps/news?pid=20601087&sid=aG0_2ZIA96TI
The Fed refused yesterday to disclose the names of the borrowers and the loans, alleging that it would cast “a stigma” on recipients of more than $1.9 trillion of emergency credit from U.S. taxpayers and the assets the central bank is accepting as collateral.
Bloomberg sued Nov. 7 under the U.S. Freedom of Information Act requesting details about the terms of 11 Fed lending programs.
On Oct. 25, Bloomberg filed another request, expanding the range of when the collateral was posted. It sued Nov. 7.
In response to Bloomberg’s request, the Fed said the U.S. is facing “an unprecedented crisis” in which “loss in confidence in and between financial institutions can occur with lightning speed and devastating effects.”
...
Oy, the pain.
Source: http://www.bloomberg.com/apps/news?pid=20601087&sid=aG0_2ZIA96TI
The Fed refused yesterday to disclose the names of the borrowers and the loans, alleging that it would cast “a stigma” on recipients of more than $1.9 trillion of emergency credit from U.S. taxpayers and the assets the central bank is accepting as collateral.
Bloomberg sued Nov. 7 under the U.S. Freedom of Information Act requesting details about the terms of 11 Fed lending programs.
On Oct. 25, Bloomberg filed another request, expanding the range of when the collateral was posted. It sued Nov. 7.
In response to Bloomberg’s request, the Fed said the U.S. is facing “an unprecedented crisis” in which “loss in confidence in and between financial institutions can occur with lightning speed and devastating effects.”
...
Oy, the pain.