Monday, January 11, 2010

What's Ben Bernanke Hiding?

Ben Bernanke has secrets, and he wants to keep them that way.

The Federal Reserve will ask a U.S. appeals court, today, to block a ruling that for the first time would force the central bank to reveal secret identities of financial firms that might have collapsed without the largest government bailout in U.S. history, reports Bloomberg.

The U.S. Court of Appeals in Manhattan, after hearing arguments in the case today, will decide whether the Fed must release records of the unprecedented $2 trillion U.S. loan program launched after the 2008 collapse of Lehman Brothers Holdings Inc. In August, a federal judge ordered that the information be released, responding to a request by Bloomberg LP, the parent of Bloomberg News.

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