US Supreme Court Orders Fed to Disclose Bailout Recipients
Despite the 2010 Dodd-Frank Law enacted by Congress, which limits what sort of financial information can be demanded under the Freedom of Information Act, records of the 2008 Bailout wil be furnished to Bloomberg LC.
Bloomberg.com reports that the 2008 bailout doesn’t fall under the protection of that act, according to the Supreme Court’s March 21st decision.
The Fed had five days to furnish the information to Bloomberg, so details should be forthcoming on who received the $3.5 trillion during the financial panic three years ago.
If you think you know where that money went, you’ll soon find out if you were right, but we’re still not seeing much improvement in the rates of home and small business loans. Find out who’s still big to fail soon.