Comments on: Court: Fed Must Make Loan Info Public

By: Pat G.

Pat G. — Tue, 25 Aug 2009 17:18:12 +0000

It appears that no one or no agency is accountable in D.C., including the FED. They have 5 days to “fix” their release which will create more questions (that won’t be answered) than will. Just the fact that the U.S. taxpayers, whose money was used, were prevented from accessing this info and that it took a suit by a news agency to get the FEDs “watered down” version, is sufficient to imply that the FED must go!!

By: emmanuel117

emmanuel117 — Tue, 25 Aug 2009 15:15:30 +0000

@Vilgrad:

The more you spam that, the less I want to read it.

By: Vilgrad

Vilgrad — Tue, 25 Aug 2009 15:09:15 +0000

Ben said he wanted a transparent Fed. This ruling and Ron Paul’s HR 1207 will pull the curtain back from the wizard.

http://theburningplatform.com/economy/the-federal-reserve-must-die-1

By: jc

jc — Tue, 25 Aug 2009 14:48:52 +0000

how do we get out from under? that is the question- sheer default?

I believe we’ll use hyperinflation rather than formal default or currency devaluation, pay back the Chinese etc with Zimbabwe dollars. Crunch time is when our creditors stop staring at the headlights and stop buying treasuires.

BBs reappointment is a sign that the Fed stoping their purchases in Oct is complete eyewash.

By: foo

foo — Tue, 25 Aug 2009 14:48:50 +0000

I believe they have 10 days to appeal under the Fed. Rules of Civ. Proc. The basis for the appeal will be either abuse of (judicial) discretion, or that the court’s finding was clearly erroneous. Most appeals fail. The fact that they did not bring a national security based defense at the trial level means (I think) that they cannot now rely on that at the appellate level.

The question is what the court ruled the Fed had to provide, and whether the Fed can redact or selectively exclude certain information. It is possible they would be in contempt if they did not provide a full disclosure. Doctoring the data would expose them to claims of fraud at the very least…but who knows what will happen.

By: Cohen

Cohen — Tue, 25 Aug 2009 14:48:10 +0000

@ahab

but then they can juice the numbers and have better than expected results. Sounds like they’ve been studying AAPL’s approach to guidance.

By: call me ahab

call me ahab — Tue, 25 Aug 2009 14:42:48 +0000

this took a little steam out of the market-

“The US economy will shrink far more than expected this year and will rebound much more slowly than forecast after that, according to a bleak new assessment by the White House Budget Office.”

this is all like a slow motion train wreck- the Fed is at the epicenter of a massive deception of the American people-

all these bulls will be much like the ’32 bulls who kept doubling down- all the way down- this country is in a trap from which we cannot extricate ourselves-

how do we get out from under? that is the question- sheer default?

By: Mannwich

Mannwich — Tue, 25 Aug 2009 14:31:46 +0000

The Fed will do what it does best…….lie.

By: Rhody Trader» Why Must the Fed Disclose Lending and Collateral Details?

Rhody Trader» Why Must the Fed Disclose Lending and Collateral Details? — Tue, 25 Aug 2009 14:30:38 +0000

[...] are posts on the Big Picture and Zero Hedge blogs today on the subject of Bloomberg winning a court case against the Fed on [...]

By: Cohen

Cohen — Tue, 25 Aug 2009 14:29:02 +0000

@Curmudgeon

Now it just depends to what level this info release will be diluted/censored