Fed in Emergency Bid to Put Bailout Ruling on Hold
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Fed in Emergency Bid to Put Bailout Ruling on Hold
The Federal Reserve asked a U.S. appeals court to delay implementing a ruling that would force the central bank to disclose details of its emergency lending programs to banks during the financial crisis.
Wednesday’s emergency request for a 90-day delay came after the U.S. Second Circuit Court of Appeals on August 20 denied a motion by the Fed to rehear the case, which had been brought by Bloomberg LP, the parent of Bloomberg News, and News Corp’s Fox News Network.
A stay would give the Fed and the Clearing House Association, a group of major U.S. and European banks, until November 18 to appeal the ruling to the U.S. Supreme Court.
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Catherine Austin Fitts’ Blog Commentaries
Fed Asks Full Appeals Court to Review Bailout Disclosure Ruling
(4 May 10)
Fed And Clearing House File Second Appeal To “Pittman”
(3 May 10)
Federal Reserve Must Disclose Bank Bailout Records
(19 March 10)
Feds Seeks to Block Bailout Secrets
(11 Jan 10)
