Monday, April 20, 2009

Bloomberg Sues Fed Reserve

In economic news, Bloomberg News has filed a lawsuit to force the Federal Reserve to disclose information about the $2 trillion it has lent to financial institutions. The Fed has refused to name the borrowers or the amounts of loans. The biggest recipients of taxpayer aid made or refinanced 23 percent less in new loans in February than in October. Goldman Sachs reduced lending by 50 percent.

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