Unprecedented development here, America! The Federal Reserve has just LOST an UNPRECEDENTED suit to Bloomberg to disclose detailed records regarding its response to the global recession — a crisis it’s largely responsible for. This is a big development and one which could open the door to full transparency and the ultimate dismantling of this unconstitutional institution.
Aug. 24 (Bloomberg) — The Federal Reserve must make records about emergency lending to financial institutions public within five days because it failed to convince a judge the documents should be exempt from the Freedom of Information Act.
Manhattan Chief U.S. District Judge Loretta Preska rejected the central bank’s argument that the records aren’t covered by the law because their disclosure would harm borrowers’ competitive positions. The collateral lists “are central to understanding and assessing the government’s response to the most cataclysmic financial crisis in America since the Great Depression,” according to the lawsuit that led to the ruling.








