Tim Ellis sez, "Completely inexcusable 'transparency' from the FDIC, releasing hundreds of totally blacked-out docs in response to a Freedom of Information Act request about the closure of Washington Mutual.
'An unprecedented level of openness in Government' indeed."
On the plus side, at least one agency in the Administrative branch knows how to redact a document.
Both agencies have declined repeated requests to answer questions about how they decided to close WaMu. WaMu is just one of 155 financial institutions closed since the housing crisis got under way in 2008, including six closed so far this month.
Under FOIA, agencies are required by law to provide information within 20 days.
The FDIC has offered several explanations for the delay, most often citing its workload. A lot of banks have failed since the onset of the financial crisis, they said. "We're drowning in paperwork," one of the agency's FOIA officers said.
The fight for WaMu documents
The China Law Blog (previously) is one of my favorite sources of insight into the secret workings of the businesses that produce the majority of the world's daily-use goods.
Petition demands recall of 500,000+ cars over alleged defect Electric car maker Tesla said on Monday there was no unintended acceleration in its vehicles, as petition signature-gatherers demanding a federal safety investigation have claimed.
Frontier is the bottom-rung of the top-tier of US ISPs, serving customers in 29 states. Despite enjoying monopoly control over its customers' online lives, and despite massive government handouts and a lackadaisical approach to maintenance, and despite out-and-out theft from customers, the company is filing for bankruptcy, having accumulated $16.3b in debt through mismanagement.
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From OneDrive to Slack, there are numerous ways to store files online. Because many platforms offer a certain amount of free storage, it makes sense to mix and match. However, spreading your files across multiple apps can make things very confusing. Rethink Files offers a simple solution. By connecting to all your other cloud storage […]
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