http://finance.yahoo.com/news/Court-orders-Fed-to-release-rb-4001267651.html?x=0&sec=topStories&pos=6&asset=&ccode=
I can't wait to see this. As a concerned taxpayer I believe "WE" do have the right to know just exactly which banks we were bailing out.
Dime to a dollar says they all weren't American.
In a significant victory for news media, a federal appeals court said the Federal Reserve must disclose records on emergency lending programs to banks bailed out by the government in the financial crisis.
The Second Circuit Court of Appeals on Friday ordered the Fed to release details of programs it adopted starting in late 2007 to shore up the financial system and forestall a complete meltdown of global financial markets.
Bloomberg LP, the parent of Bloomberg News, and News Corp's Fox News Network sought details of the central bank's actions under the federal Freedom of Information Act, or FOIA, which requires government agencies to make documents public.
The Fed argued against disclosure, citing an exemption that it said lets federal agencies keep secret various trade secrets and commercial or financial information.
It also said allowing disclosure of participants in the programs and the collateral they posted could cause "competitive and reputational harm," perhaps triggering bank runs, and impede the central bank's ability "to effectively manage the current, and any future, financial crisis."
Writing for a unanimous three-judge appeals court panel, Chief Judge Dennis Jacobs said, however, that to give the Fed power to deny disclosure because it thinks it best to do so "would undermine the basic policy that disclosure, not secrecy, is the dominant objective of.
"If the Board believes such an exemption would better serve the national interest," he added, "it should ask
