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The Fed stonewalls We the People again- Why?

The Fed (On release of what they did with 2 Trillion USD): "...will destroy the board's claims of exemption and right of appellate review..."

The Federal Reserve Board cites, 'irreparable harm' and is granted stay in data release...

In an extraordinary move, the Fed has been granted a stay in the case brought against them by Bloomberg from the courts. (Follow a lively forum on this subject here, "Judge Grants Stay In Bloomberg/Fed FOIA Case")The first order from a US judge demanded that The Fed disclose all information regarding how they used the so-called two trillion in stimulus funds. We read more here:

"The Federal Reserve Board, despite being ordered to disclose to whom it awarded roughly $2 trillion in discount "stimulus" loans, is fighting to keep the information under wraps as a protected "trade secret."

Earlier this week, a U.S. district court judge rejected the Fed's argument that the names of borrowers are exempt from disclosure under the Freedom of Information Act and ordered the board to release the information by Monday, Aug. 31.

The Fed's board of governors, however, has now filed a motion asking the judge to delay enforcement of the order, seeking time to appeal and arguing that disclosing which banks borrowed the funds could lead to a backlash from the banks' customers and stockholders.

Demand the money managers come clean by signing the petition in support of an audit of the Federal Reserve now!

"The immediate release of these documents will destroy the board's claims of exemption and right of appellate review," the motion said. "The institutions whose names and information would be disclosed will also suffer irreparable harm."

Bloomberg LP, which sued the Fed on behalf of its Bloomberg News unit for not complying with a FOIA request last year, disagrees.

"Our argument is that the public interest in disclosure outweighs the banks' interest in secrecy," said Thomas Golden, a lawyer who represents Bloomberg.

"What has the Fed got to hide?" said Vermont's Sen. Bernie Sanders in an email reported by Bloomberg. "The time has come for the Fed to stop stonewalling and hand this information over to the public."


(Story continues here - Federal Reserve Board fights to keep its secrets)


The fact that they are openly hiding something so dangerous just is making this worse, imho...

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The Fed
01-12-2010 15:40:51
Federal Reserve to Identify Bail-out Fund Recipients:
Dec 1, 2010:
http://newsusa.myfeedportal.com/i/federal-reserve-identify-bail-out-fund-receipients/0/5

 
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