Federal Reserve Says Disclosing Loans Will Hurt Banks

It seems as if the Fed is fighting the law; it seems that the fed feels as though they are above the law. If such was not true, then why are they making demands as they are, and refusing to show "WE THE PEOPLE" where the money is going, and for what purpose. What do they have to hide, what don't they want us to find out? Their entire goal of a new world order is largely based upon bankers remaining aloof; this begins to chip away at that aloofness.

Mark Pittman
Bloomberg
Thursday, August 27, 2009

The Federal Reserve argued yesterday that identifying the financial institutions that benefited from its emergency loans would harm the companies and render the central bank’s planned appeal of a court ruling moot.

The Fed’s board of governors asked Manhattan Chief U.S. District Judge Loretta Preska to delay enforcement of her Aug. 24 decision that the identities of borrowers in 11 lending programs must be made public by Aug. 31. The central bank wants Preska to stay her order until the U.S. Court of Appeals in New York can hear the case.

“The immediate release of these documents will destroy the board’s claims of exemption and right of appellate review,” the motion said. “The institutions whose names and information would be disclosed will also suffer irreparable harm.”

The Fed’s “ability to effectively manage the current, and any future, financial crisis” would be impaired, according to the motion. It said “significant harms” could befall the U.S. economy as well.

The central bank didn’t say when it would file its appeal

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