Fed Bailout Records Released

Quick news bite in the midst of the RISE conference (which is very cool so far). Under court order, the Federal Reserve released loan records of those banks who tapped the discount window during the credit meltdown. The Fed extended $3.3 trillion (yep) to financial institutions during the crisis.

Those in support of bailout activities argue that releasing such a list will make it harder for the Fed to serve as lender of last resort because banks may be less reluctant to seek emergency loans knowing that their identities will be known. I wouldn't count on it...

Those who believe in transparency of government agencies, of course, believe that such information is owed the public.

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