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.
August 26, 2009 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
The Federal Reserve has been ordered by a U.S. judge to release records about emergency loans to investment banks and other financial institutions during the height of the economic meltdown.
Southern District of New York Judge Loretta Preska granted a request from the Bloomberg organization under the Freedom of Information Act in Bloomberg L.P. v. Board of Governors of the Federal Reserve System, 08 Civ. 9595.
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