Saturday, October 10, 2009
Bloomberg Demands Bank Names; Court Stays Release
The Bloomberg News Unit of Bloomberg LP is seeking the names of companies that received loans from the Federal Reserve. Bloomberg attorneys say the central bank should be forced to disclose the corporate identities because the Federal Reserve can't demonstrate that borrowers would be harmed by such a disclosure.
The U.S. Court of Appeals for the Second Circuit disagreed, and stayed the release of information during the appeal.
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