[Infowarrior] - NY Fed to release bank loan info from '08 crisis

[Richard Forno]

(Transparency, 3 years after the fact.  But still, helpful.   ---- rick)

http://www.businessinsider.com/the-fed-banks-the-discount-window-2011-3

For The First Time Ever The Fed Must Reveal Which Big Banks Took Emergency Loans From The Discount Window

Courtney Comstock	 | Mar. 21, 2011, 10:17 AM | 77 |   1

The Fed ruled today that they're going to reveal which banks got federal funds from the discount window.

The discount window allowed banks to borrow money from the Central Bank on an emergency basis to meet liquidity shortages during the crisis.

Remember when the Fed released all of that Stress Test stuff and everyone said, "but they didn't reveal anything interesting!"

Well, this is the interesting stuff - who took emergency loans during the crisis.

Bloomberg sued the Fed demanding that they reveal the data. Now, they have agreed to, we just don't know when they'll do it. 

Bloomberg reporter Lizzie O'Really tweeted that she predicts it will be released within 5 days.

The Fed will have to release its data on emergency loans. We sued them for it and the Supreme Court rejected the appeal.

A group of big banks did not want the data released. The court rejected their appeal.

This is the first time a court has forced the Fed to name the banks that borrowed from the discount window.

This is a huge victory for transparency, and a great legacy for the late Mark Pittman, who originally FOIA'd the data.