Bloomberg Sues The Fed For More Transparency Over $2 Trillion In Emergency Loans
from the that-would-be-useful-info dept
The article linked above is from Bloomberg (the party suing the gov't), so perhaps it's biased, but it does seem noteworthy how pretty much everyone tried to dodge questions concerning the $2 trillion in loans. The only person who seemed to be willing to say anything was Rep. Barney Frank, who is the House Financial Services Committee Chairman. Yet, his explanation for the secrecy is hardly compelling:
"I talk to [New York Fed CEO Timothy] Geithner and he was pretty sure that they're OK. If the risk is that the Fed takes a little bit of a haircut, well that's regrettable.''Pretty sure they're OK? That's hardly a ringing endorsement for keeping the details of such loans a secret.