http://www.bloomberg.com/apps/news?pid=20601087&sid=apx7XNLnZZlc
Dec. 12 (Bloomberg) -- The Federal Reserve refused a request by
Bloomberg News to disclose the recipients of more than $2 trillion of
emergency loans from U.S. taxpayers and the assets the central bank is
accepting as collateral.
Bloomberg filed suit Nov. 7 under the U.S. Freedom of Information Act
requesting details about the terms of 11 Fed lending programs, most
created during the deepest financial crisis since the Great Depression.
The Fed responded Dec. 8, saying it’s allowed to withhold internal
memos as well as information about trade secrets and commercial
information. The institution confirmed that a records search found 231
pages of documents pertaining to some of the requests.
“If they told us what they held, we would know the potential losses
that the government may take and that’s what they don’t want us to
know,” said Carlos Mendez, a senior managing director at New York-
based ICP Capital LLC, which oversees $22 billion in assets._______________________________________________
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