[Infowarrior] - FBN Wins FOIA Lawsuit Against Treasury

[Richard Forno]

Friday, February 20, 2009
FOX Business Wins FOIA Lawsuit Against Treasury

http://www.foxbusiness.com/story/markets/fox-business-wins-foia-lawsuit-treasury/#

FOX Business Network has won a victory against the Treasury Department  
in its Freedom of Information Act request for details about the  
government’s bailout plan.

Judge Richard J. Holwell of the U.S. District Court for the Southern  
District of New York said in a decision Friday that the government is  
directed to comply with FOX Business’s request under the FOIA “within  
30 days and to produce a Vaughn index with 45 days.”

That means Treasury must comply with FOX Business’s request by Monday,  
March 23, and must produce a Vaughn index by Monday, April 6.

A Vaughn index details which documents have been withheld and why.

FOX Business sued Treasury on Dec. 18 over failure to provide  
information on the bailout funds or respond to FBN’s expedited  
requests filed under the FOIA.

The initial request, filed on Nov. 25, sought actual data on the use  
of the bailout funds for American International Group (AIG: 0.5389, 0,  
0%) and the Bank of New York Mellon (BK: 22.82, 0, 0%), and an  
additional request, filed on Dec. 1, sought similar data on the  
bailout funds for Citigroup (C: 2.02, 0, 0%).

FBN asked the Treasury Department to identify, among other issues, the  
troubled assets purchased, any collateral extended, and any  
restrictions placed on these financial institutions for their  
participation in this program.

The FOIA complaint was filed by FOX News Network, LLC, as owner of  
FBN. Both FOX Business and FOX News Network are owned by News Corp.  
(NWSA: 6.04, 0, 0%).