Thursday, March 31, 2011

Federal Reserve Court Ordered Release On Emergency Loans is Over 25,000 Pages

The Federal Reserve released over 25,000 pages of secret loan documents under court order, almost three years after the Bloomberg news agency first requested details.
The records reveal for the first time the names of financial institutions that borrowed directly from the central bank through the so-called discount window. The Fed provided the documents after the U.S. Supreme Court this month rejected a banking industry group’s attempt to shield them from public view.



  1. Ok, ok. I'll take pages 1-250, who else is in?

    All kidding aside, any word on the collateral the banks used to get the loans?

  2. Collateral is what to focus on, assuming it is released (it should be). We know from the Lehman bankruptcy documents that the FRBNY was taking as collateral the stocks of other bankrupt companies (e.g., Sharper Image). The Fed did not detail individual collateral in the release of documents related to its other lending programs--it only released how much was in various ratings tranches. Looking forward to Bloomberg's release of the documents.

  3. That is how these counterfeit money terrorists measure productivity...Piles of paper.

  4. Gee, even a bank in Libya got to use the Discount Window...