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August 25, 2009. Ben Bernanke is nominated to serve a second term as Federal Reserve Chairman.
August 25, 2009. Ben Bernanke and the Fed are ordered by a federal court to disclose details of their bailout transactions during the financial meltdown last year.
Two reporters from Bloomberg News filed suit in federal court under the Freedom of Information Act and won a case that "ruled against the U.S. Federal Reserve's attempt to block disclosure of companies that participated in and securities covered by a series of emergency financial programs as the global credit crisis began to intensify."
The Fed had argued that "naming the businesses would cause 'imminent competitive harm.'" Of course the Fed can appeal the decision. But in the interest of the transparency that Ben Bernanke so loudly proclaims, it would be wise of him to simply turn over the documents.
Bernanke has been on a town meeting speaking tour touting that he will be the "transparent king" of the Fed. Now is the time for him to walk his walk.
We need to know about Lehman Brothers, Bear Stearns, Merrill Lynch, American International Group Inc. (NYSE: AIG) and the inside dope on all his multitrillion dollar deals. Was he acting in the best interest of the American people?
Should the Fed turn over the documents as prescribed by the court order?
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Reader Comments (Page 1 of 1)
8-29-2009 @ 3:17PM
THOMAS said...
MR BEN BERNANKE YOU WERE G.W.BUSH S TRANSPARENCY KING, NOW YOUR WITH THE HIDE EVERYTHING GROUP OF PRES OBAMA CHI-TOWN MAFIA POLITICS UNION GOONS, YOU WERE RE-HIRED BECAUSE YOU KNOW TO MUCH ABOUT OBAMAS 2 TRILLION DOLLARS OF PATRIOTIC AMERICANS BAILOUT OF AIG,BEAR STEARNS, FDIC, LEHMAN BROTHERS, MERRILL LYNCH, ETC. NOW YOU CAN BECOME PATRIOTIC AMERICANS TRANSPARENCY KING AGAIN AND LET THE OBAMA CRUISE SHIP SINK. TURN OVER THE DOCUMENTS WITH HIS BIRTH CERTIFICATE FOR A JOB WELL DONE.