FedGovs don't want you to know


Just because it's your money they're handing out doesn't mean you have the right to know how it's being used
The full scale attack on free markets and liberty continues.

By the way, it's none of your business how the money is spent.

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.

Chris Martenson has some especially choice comments here.

Hat tip Liberty Maven.

— NeoWayland

Posted: Sun - December 14, 2008 at 02:28 PM  Tag


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