Tuesday, October 26, 2010

Major Banks Appeal Federal Reserve Disclosure Ruling to Supreme Court

But the Federal Reserve did not join in the appeal, apparently in order to enhance the standing of the banks in the case.

At stake are the details of $2 trillion in Federal Reserve assistance to financial institutions beginning in late 2007 and running through the crisis of 2008, details which the Fed does not want to reveal to protect the institutions which received the dough.

Nevermind it's your money.

Down with the Fed!

Reuters.com has the story here.