Treasury Sued By Fox Business Network Over Rescue Plan Info

[Newsjock]

Source: Dow Jones Newswires

FOX Business Network said Thursday it has filed a lawsuit against the U.S. Treasury Department for being slow to provide information on the $700 billion financial rescue plan.

The television network, a unit of News Corp., said in a release that Treasury has not responded to two Freedom of Information Act requests, one on Nov. 25 and one on Dec. 1, regarding the use of funds for Citigroup Inc., American International Group Inc. and Bank of New York Mellon. The request sought data on the specific restrictions placed on the firms and the collateral extended as part of their acceptance of federal funds, among other things.

A lawyer for the network said that "it has become apparent that the Treasury will not cooperate without mounting legal pressure."

The complaint was filed in federal court in New York.

A Treasury spokeswoman was not immediately available for comment.

Read more: http://money.cnn.com/news/newsfeeds/articles/djf500/200812181548DOWJONESDJONLINE000946_FORTUNE5.htm

[underpants]

1. Oh NOW they want full disclosure

:rofl:

[Ichingcarpenter]

2. Bloomberg News also sued for info on the two trillion

The Bush regime in the meantime is giving away the store, the block, the city,
the roads, the national parks and anything we have left.

[shadowknows69]

3. Maybe they knew Fox would spin it into something not even resembling news.

[elleng]

4. Fox and Bloomberg did the right thing

by suing for this info, and we should recognize this.

[Robbien]

5. Yeah, they did. But why did they? They never have done so before

It is a mystery.

[zbdent]

6. Faux wants to use the Freedom of Information act?

oh, the irony ...