Shrouding $2 Trillion in Bank Loans in ‘Secrecy’

Fed Shrouding $2 Trillion in Bank Loans in ‘Secrecy,’ Suit Says
By Mark Pittman
April 16 (Bloomberg) -- U.S. taxpayers need to know the risks behind the Federal Reserve’s $2 trillion in lending to financial institutions because the public is now an “involuntary investor” in the nation’s banks, according to a court filing by Bloomberg LP. Bloomberg LP v. Board of Governors of the Federal Reserve System, 08-CV-9595, U.S. District Court, Southern District of New York (Manhattan). (more)