 SnakeoilIgnore Button. The coward's feature.Premium
join:2000-08-05
Mentor, OH
kudos:1
 ·RoadRunner Cable
 ·magicjack.com
| Banks Bail out Documents can go public Supreme Court refuses to bar release of documents on which banks got Fed loans during crisis
»www.oregonlive.com/business/inde···r_r.html
quote:
WASHINGTON -- The Supreme Court decided today not to stop the release of Federal Reserve Board documents identifying financial companies that received Fed loans to survive the financial crisis.
The high court, without comment, refused to hear an appeal from an association of bankers trying to keep the information from becoming public.
News Corp.'s Fox News Network LLC and Bloomberg L.P. had sued separately for details about loans that commercial banks and Wall Street firms received and the collateral they put up. Other news agencies, including The Associated Press, filed briefs with the appellate court in their support.
The 2nd U.S. Circuit Court of Appeals in New York City had said that such information isn't automatically exempt from requests under the Freedom of Information Act.
But the Fed had argued that if it identified banks that drew emergency loans, it could cause a run on those institutions, undermine the loan programs and potentially hurt the economy. The Fed acts as lender of last resort for banks that can't get money from private sources.
Good, I hope the banks that received money have a decrease in customers, to the point they have to shut down.
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pandoraPremium
join:2001-06-01
Outland
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| Some of the companies that received fed loans may not have been banks as we generally understand them. GE comes to mind. GMAC also. Some companies feed at the federal troth on many levels, it would be nice to see this end, but as they do it regardless of the party in power, no end is in sight.
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 Romney2012Defeat Obama 2012-Chg we can believe inPremium
join:2002-03-03
USA
kudos:4 | reply to Snakeoil
said by Snakeoil:Good, I hope the banks that received money have a decrease in customers, to the point they have to shut down.
And then what. Another bailout? What you wish for is bad for everyone, not just the banks you want shut down.
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 IIIBradIIIComm M-E-L Instr
join:2000-09-28
Greer, SC
 ·T-Mobile US
| said by Romney2012:said by Snakeoil:Good, I hope the banks that received money have a decrease in customers, to the point they have to shut down.
And then what. Another bailout? What you wish for is bad for everyone, not just the banks you want shut down. That doesn't compute. When the Wendys down the street closes down, do the McDonalds and Hardees get a bailout? No, they get more customers!
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