OMG If You Tell People What We Did The World Will End
Bloomberg has sued the Fed to disclose documents describing how the TARP money (and that infused into various affiliated programs) was actually used by the banks that signed up for it. A federal district court has done what Congress could not do: order the Fed to turn this information over under the FOIA. The banks, it turns out, have taken the position that the release of accurate information will cause the spread of rumors that will undermine the capitalist system. Because, you know, in the system right now, BoA is a magic pony that exists due to its superb financial management (of unlimited taxpayer largesse.)











