Bloomberg News filed a Freedom of Information Act lawsuit against the Federal Reserve on November 7 to find out who is getting the $2 trillion in bailout money. The Federal Reserve told them to shove it.
The Fed responded Dec. 8, saying it’s allowed to withhold internal memos as well as information about trade secrets and commercial information.
“Notwithstanding calls for enhanced transparency, the Board must protect against the substantial, multiple harms that might result from disclosure,” Jennifer J. Johnson, the secretary for the Fed’s Board of Governors, said in a letter e-mailed to Bloomberg News.
“In its considered judgment and in view of current circumstances, it would be a dangerous step to release this otherwise confidential information,” she wrote.
You think Madoff's $50 billion fraud was something? He's a patzer compared to these guys.
Federal Reserve refuses to disclose the recipients of $2 trillion in emergency loans
Thomas Piketty, the French economist behind 2014's game-changing Capital in the 21st Century, has a new book, Capital and Ideology (out in France now, coming in English in 2020), which uses the same long-run economic series that Capital 21C benefited from to understand the relationship between wealth and ideology. Central to Piketty's thesis: that it's […]
Trump wants to roll back regulations that promote low-power light bulbs, even though at this point the industry has moved on and isn’t likely to do much in the way of modernizing incandescents. His interest is, as always, deeply personal: he thinks LED lights make him look orange. “The light bulb,” the president began. “People […]
President Trump this morning fired John Bolton, his national security mustache. Trump cited various disagreements with him over policy. I informed John Bolton last night that his services are no longer needed at the White House. I disagreed strongly with many of his suggestions, as did others in the Administration, and therefore. … I asked […]
Breaking into the big leagues as a project manager isn’t done overnight, but there are principles that anyone can learn, and they’re applicable to nearly any business. No matter what your field, if there are multiple teams working toward a common goal, you’re going to need a roadmap. The Project Management Professional Certification Training Suite […]
On the one hand, nostalgia is “a corruption of the historical impulse,” according to William Gibson. On the other hand, “Super Mario Bros.” will never not be cool. Luckily, there’s a way to satisfy that retro gaming while still keeping an eye on the future: The GameShell Kit. This thing is simultaneously the last handheld […]
The field of data analytics can get intimidating, even for business professionals who constantly rely on it. But at its heart, its purpose is to simplify. To take mounds of information and distill their insights into a single clear picture. Currently, the go-to software for painting that picture is Tableau. And if you want to […]