Fed to release data on crisis loans to Wall Street banks

[Cali_Democrat]

Source: CNN Money

The Federal Reserve Board will release data on emergency loans made to Wall Street banks and others during the height of the financial crisis, after the Supreme Court refused Monday to side with banks who want the details kept secret.

Bloomberg LP, owner of Bloomberg News, had filed the lawsuit seeking details on a program that gave banks access to cheap loans in 2008. The Fed had originally refused to release the data, citing exemptions in open records laws for trade secrets.

A federal appeals court in New York ruled the media should have access to the loan data. A group of nation's banks appealed and asked the U.S. Supreme Court to stop it. The high court refused to intervene with no comment.

The Fed says it will comply and reveal details of loans made to borrowers in 2008.

Read more: http://finance.yahoo.com/news/Fed-to-release-data-on-crisis-cnnm-2047680242.html?x=0&sec=topStories&pos=main&asset=&ccode=

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Well this should be interesting.

[florida08]

1. not sure how this will change anything

We already know most of them. However I would like to see how many overseas banks got from us.