Editor's Note

The FOI Advocate is a compendium of ideas, edited story excerpts and other materials from a variety of Web sites, as well as original concepts and analysis. When the information comes directly from another source, it will be attributed and a link will be provided whenever possible. The blog relies on the accuracy and integrity of the original sources cited. We will correct errors and inaccuracies when we become aware of them.

Tuesday, February 16, 2010

Transparency or Financial Stability? The Arguments in Bloomberg v. Fed

The New York Times brings this fascinating account of the legal wranglings of Bloomberg News against the Fed for information pertaining to the Bailout. Described as a "principled grudge match," the feud over the financial news giant's FOIA requests has the Fed arguing that the information sought could cause stigmatization of certain banks, potentially bank runs, and could jeopardize the government's efforts to stabilize the economy, while Bloomberg argues it is seeking transparency in order to fulfill its watchdog role.

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