David Asman of Fox Business Network writes that the business news channel has filed a Freedom of Information Request with the Federal Reserve to get information about its $2 trillion worth of loans to banks to ease the financial crisis.
Bloomberg News filed a lawsuit to get the same information last week.
Asman writes, “It was lack of transparency that got us into this mess. Until the world clearly knows who owns what and how much we’re paying for it, we won’t have confidence restored in our financial system.Â
“So Fox Business has begun actions to force the U.S. government and the Federal Reserve to share information about all these bailouts with you. If in 20 days the Treasury Department has not responded to our Freedom of Information requests, we are going to sue the Treasury for that information. The government and the Fed have no right to keep this information from you, the very people who are being forced to pay for these bailouts.Â
“As we’ve said on this program time and again, it’s our money, and if we are risking our national Treasury and the future value of our currency for this bailout, the very least we deserve is knowing how much and on what our money is being spent. We are doing this on your behalf and on ours.”
Read more here.
