Bloomberg FOIA on bankster bailouts may increase transparency

lambert's picture

Bloomberg reports on the FIOA case they brought:

The Federal Reserve must make public reports about recipients of emergency loans from U.S. taxpayers under programs created to address the financial crisis, a federal judge ruled.

Good news for our on-life-support system of Constitutional government.

Big Picture quotes from the opinion. The opinion applies not to the relatively trivial $700 billion from TARP, but to the total $22 trillion that the taxpayers are on the hook for.

NOTE Interesting that Bernanke, who with Paulson orchestrated the largest transfer of wealth from the people to banks in world history, was renominated by Obama at the same time this decision came down. I'd view that as a rather strong signal of where Obama stands on transparency and accountability for the banksters: If he has his way, there won't be any.

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