Close Close
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards
ThinkAdvisor

Regulation and Compliance > Federal Regulation

Fed faces disclosure lawsuit

X
Your article was successfully shared with the contacts you provided.

Bloomberg News has filed a federal lawsuit seeking the disclosure of details regarding almost $2 trillion in emergency loans from American taxpayers. The Federal Reserve is refusing to identify the recipients, which, according to Bloomberg, defies congressional demands for transparency in the wake of a $700 billion bailout and recently transformed legislation.

Two months after Fed Chairman Ben Bernanke and Treasury Secretary Henry Paulson agreed to comply with congressional demands for transparency, the Fed is lending “far more than that in separate rescue programs that didn’t require approval by Congress … Americans have no idea where their money is going or what securities the banks are pledging in return,” according to Bloomberg.


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.