In another case of secrecy and greed much like our National government the banksters (John Key anyone) refuse to give any details to their benefactors the hapless US citizens who after all gave the money to the Wall street scheisters as to what they did with the 2 Trillion they doled out to their scamming mates. The total sum by the way is now more than $ 8.5 trillion as the FOIA request was done some time ago.
Of course the Fed will not give any information and they don’t have to comply to the FOIA law since they are a privatly owned banking cartel.
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.