Saturday, December 13, 2008

Yet Another Reason to Oppose Bailouts reports that the Federal Reserve refuses to divulge information about what it has done with $2 trillion in emergency loans:
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 is suing under the Freedom of Information Act.  

Not only is the government handing out unprecedented amounts of taxpayer money, they don't think the taxpayers even have a right to know where that money is going.  It's only $2 trillion, why should we worry about it?  I'm sure they'll use it wisely, just like the government always uses tax money.

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