Bloomberg sues Fed

Bloomberg reports it has filed a federal lawsuit against The Federal Reserve. Bloomberg is sueing the Fed in order to obtain the names of the banks and companies that received $2 trillion of emergency loans funded by taxpayer dollars. Bloomberg is also seeking information regarding the "troubled assets the central bank is accepting as collateral."

From the story:

Fed Chairman Ben S. Bernanke and Treasury Secretary Henry Paulson said in September they would comply with congressional demands for transparency in a $700 billion bailout of the banking system. Two months later, as the Fed lends 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. 

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