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Bloomberg News's Lawsuit Against The Fed

2010_02_piggybank.jpg The NY Times has a feature on Bloomberg News's attempt to get the Federal Reserve to disclose information about exactly who was helped by the bailout—and how much they got. The Fed never responded to Bloomberg News's Freedom of Information Act request from September 2008, so the company sued. The lawsuit said, "The documents that Bloomberg seeks are central to understanding the government’s response to the most cataclysmic financial crisis in America since the Great Depression." According to the Times, one of the Fed's worries is that "savvy traders could quickly get their hands on such data in the future and use it to their advantage even as the government was trying to stabilize the markets." The issue is at the appeal courts now.

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Comments [rss]

  • irritant

    It would have been nice of the NYTimes to at least give passing mention to the similar series of FOILs by the NY Post. Yes, the NYPost has superb financial _reporting_, highlighted by their John Crudele. (As opposed to their editorials...)

  • Shinobi Shaw

    The more I look at Bloomberg's actions, the more I think this guy is preparing the public for a 2012 presidential run.

    Him taking on the Fed is a perfect PR stunt.

  • goodcow

    Is it that fucking difficult to have a title that adheres to basic grammar? News's??? Seriously?

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