How the US Federal Reserve was sued for not showing the records of loans to banks: Timeline

I would start  by referring to a recent agitation against corrupt government practices in India. I heard a man on an Indian radio channel saying that his brother tried to invoked RTI (Request  For Information) Act to ask government about his investment details in an industrial sector. Government didn’t act, rather he started getting threatening messages to pull out of this thing. When he didn’t do that, he was shot dead.

Analogy might just not be as exact for US Federal Reserve in all respect but it certainly has some part in common. When there is something wrong within an organisation then information is kept hidden by higher authorities irrespective of it being a democratic nation or communist, India or US or China.

Here is the timeline on how Bloomberg and Fox tried to get the information from the US Federal Reserve since 2008 but they couldn’t get it until very recently when Fed agreed to give out 6000 pages of information:

source: Bloomberg

 

Hitesh Anand

I am a post graduate from Newcastle University, UK. I like studying and analyzing economic data and financial health of world.

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