The Federal Reserve has been ordered by a federal judge to release records about emergency loans made to investment banks and other financial institutions during the height of the economic meltdown. Rejecting a Federal Reserve claim that the material was exempt from disclosure, Southern District of New York Judge Loretta Preska granted a Freedom of Information Act request from the Bloomberg organization. Her decision contrasted with one made by fellow Southern District Judge Alvin Hellerstein in July.
Federal Reserve Ordered to Turn Over Data on Bailout Loans
New York Law Journal
August 26, 2009