US Supreme Court Declines to Hear Appeal of Federal Reserve Ruling

The U.S. Supreme Court has declined to hear an appeal that sought to stop the U.S. Federal Reserve from disclosing details about its emergency loans to banks during the financial crisis in 2008. The Clearing House Association had asked the high court to reverse a federal appeals court ruling that required disclosure of the lending records. The Obama administration had opposed the appeal, as...

2011-03-21 15:06:39 Hawaiian Reporter

MASHEL'S VIEW: The Obama administration was correct in opposing this appeal.  The public has a right to know the details concerning emergency loans made to banks during the financial crisis in 2008.  If institutions take federal money, than they have to expect to be required to make full disclosure and engage in transparent business practices.