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Federal Reserve releases and withholds documents on credit crisis
As noted here before, the Federal Reserve has been reluctant to release documents about bailout money. Now according to POGO, "Governmentattic.org has posted several documents from the Federal Reserve in response to a FOIA request about the Fed's lending activities related to the credit crisis" but "the Fed was withholding over 2,000 pages of information under the (b)(4) and (b)(5) FOIA exemptions, which protect against the disclosure of "trade secrets" and "inter-agency or intra-agency memorandums or letters."" The Fed Knows Best, Project on Government Oversight, Feb 23, 2009. Continue reading
Fed Refuses to Disclose Recipients of $2 Trillion
Fed Refuses to Disclose Recipients of $2 Trillion (Update2), By Mark Pittman, Bloomberg, Dec. 12, 2008.
The Federal Reserve refused a request by Bloomberg News to disclose the recipients of more than $2 trillion of emergency loans from U.S. taxpayers and the assets the central bank is accepting as collateral. Bloomberg filed suit Nov. 7 under the U.S. Freedom of Information Act requesting details about the terms of 11 Fed lending programs, most created during the deepest financial crisis since the Great Depression. The Fed responded Dec. 8, saying it’s allowed to withhold internal memos as well as information about trade secrets and commercial information. The institution confirmed that a records search found 231 pages of documents pertaining to some of the requests.Continue reading
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