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Fed Fights to keep its bailout secrets

Jan 11, 2010

http://www.dailyfinance.com/story/investing/federal-reserve-trying-to-preserve-its-bailout-secrets/19311582/

As of Sept. 23, 2009, the special lending totaled $2.14 trillion, but the pubic still doesn't know precisely who got that money. 

The Fed is joined in its case to block the release of details by the Clearing House Association, a banking group which includes ABN Amro Bank, Bank of America (BAC), Bank of New York Mellon (BK), Citigroup (C), Deutsche Bank (DB), HSBC Holdings (HBC), JPMorgan Chase (JPM), U.S. Bancorp (USB) and Wells Fargo (WFC), among many others. How much has each of these banks gotten in support from the Fed? If the courts don't force the Fed to open its records, we may never know.


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Dr. Stephen Jones


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