Fed Releases Discount-Window Loan Records Under Order
March 31st, 2011Via: Bloomberg:
The Federal Reserve released thousands of pages of secret loan documents under court order, almost three years after Bloomberg LP first requested details of the central bank’s unprecedented support to banks during the financial crisis.
The records — 894 files in PDF form that must be individually opened and read — reveal for the first time the names of financial institutions that borrowed directly from the central bank through the so-called discount window. The Fed provided the documents after the U.S. Supreme Court this month rejected a banking industry group’s attempt to shield them from public view.
“This is an enormous breakthrough in the public interest,” said Walker Todd, a former Cleveland Fed attorney who has written research on the Fed lending facility. “They have long wanted to keep the discount window confidential. They have always felt strongly about this. They don’t want to tell the public who they are lending to.”
Some bank name are redacted according to zerohedge
http://www.zerohedge.com/article/why-fed-redacting-bank-canadas-presence-fx-swap-lines-and-hiding-terms-its-currency-transact
no surprise here
894 pdf files. Nice.
I’m hoping for an analysis from someone – sheesh.
Not going to make it easy for us are they?
But, when Wikileaks released the State Dept memos, was it a coinkydink that all the protests started in the Middle East? I think not. I can’t wait to read someone’s analysis of who and how much went to who in all of these pdf’s.
And wtf with redacting some names? Uh and Duh if this is a FOIA, I don’t think the Fed can arbitrarily hide names. The only time you can white out names from a FOIA request is when there are legal actions pending (I think).
This stinks to me of some more ring around the rosy dancing shiite on the part of the Feds. So this is NOT a response that meets the intent of the FOIA law.
Wonder why they are playing this out? But whatever the outcome, I can only hope that there are going to be some very important person’s chesnuts roasting in an OPEN Fire.