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The Supreme Court upholds the court order giving the Fed five days to release details of its...

The Supreme Court upholds the court order giving the Fed five days to release details of its 2008 emergency lending, over the vigorous objection of the big banks that got the loans. The Fed says it will "fully comply" and is preparing the unprecedented disclosure.
Comments (15)
  • youngman442002
    , contributor
    Comments (5131) | Send Message
     
    This is great news....great news..
    21 Mar 2011, 11:15 AM Reply Like
  • DagnyTaggart
    , contributor
    Comments (486) | Send Message
     
    If a tree falls in a forest and no one hears it, does it make a sound? Expect the media silence on this one to be deafening. Don't fool yourself into thinking this is news.
    21 Mar 2011, 11:18 AM Reply Like
  • D. McHattie
    , contributor
    Comments (1825) | Send Message
     
    I'll be looking forward to reading the ZeroHedge take when the information is released.
    21 Mar 2011, 12:35 PM Reply Like
  • wyostocks
    , contributor
    Comments (7614) | Send Message
     
    Its about time..................
    21 Mar 2011, 11:16 AM Reply Like
  • Duude
    , contributor
    Comments (3358) | Send Message
     
    We can thank Bloomberg and Fox news for filing these suits. Looking forward to the releases. Banking stocks are going to have a bad week.
    21 Mar 2011, 11:18 AM Reply Like
  • woollyB
    , contributor
    Comments (1019) | Send Message
     
    If ongoing nuclear catastrophe, more war in the Middle East, and terrible housing data doesn't weigh on the market, why would information about emergency lending in 2008? Everyone knows all the bad debt is still in the system anyway.
    21 Mar 2011, 11:27 AM Reply Like
  • Bozerdog
    , contributor
    Comments (464) | Send Message
     
    this could present a good buy in opp...
    21 Mar 2011, 11:31 AM Reply Like
  • leesbillbob
    , contributor
    Comments (5) | Send Message
     
    I wonder why the banks would object to this being public
    21 Mar 2011, 11:32 AM Reply Like
  • Chuyita
    , contributor
    Comments (4) | Send Message
     
    Why doesn't the Fed help out the States like it helped out the banks in 2008?
    In Wisconsin the new Governor is asking the workers to pay the States debt. Seems like there is no accounting for these people.
    I agree with Dagny's opinion and the analogy to the falling tree.
    21 Mar 2011, 11:53 AM Reply Like
  • wyostocks
    , contributor
    Comments (7614) | Send Message
     
    The federal government gave the states billions in the stimulous package. Instead of viewing as a one time stop gap measure and use it to get their houses in order, they assumed it would keep on coming. The states need to get their spending under their own control.
    Besides, the banks paid the money back. The states didn't. Pure and simple.
    21 Mar 2011, 12:11 PM Reply Like
  • Boxed Merlot
    , contributor
    Comments (1583) | Send Message
     
    The federal government gave the states billions...

     

    All too often the federal "gifts" arrive at the doorstep with expensive upkeep charges that negate their value. They are received as initiatives to spend even greater local amounts to keep the programs they promote alive.

     

    Besides which, what can the government possibly "give" that it doesn't first "take away"? And please don't tell me they can give back more than was initially taken. The laws of physics can't be denied. Better to be left alone than to receive "help" from the government. imo.
    21 Mar 2011, 12:46 PM Reply Like
  • Duude
    , contributor
    Comments (3358) | Send Message
     
    "All too often the federal "gifts" arrive at the doorstep with expensive upkeep charges..."

     

    Sounds like you're referring to unemployment insurance, among other things. States are going to be forcing employers to pay even more into unemployment which might trigger an exodus to cheaper states.
    21 Mar 2011, 03:38 PM Reply Like
  • Boxed Merlot
    , contributor
    Comments (1583) | Send Message
     
    Sounds like you're referring to unemployment insurance...

     

    Not necessarily. Unemployment "insurance" is / was initially designed as "insurance". For those industries that have repeatedly abused employees, these premiums may be voluntarily contributed to be joint agreement by both parties as they feel appropriate. I'll grant them that.

     

    My comment has more to do with federal seed money for everything from before, during and after school care / feeding / support and entertainment, law enforcement programs / training / indoctrination and supplies that may not even be requested but localities jump on for the "free" price tag, only to be forced to fund their continuation for decades to come from their own coffers.
    21 Mar 2011, 04:57 PM Reply Like
  • Duude
    , contributor
    Comments (3358) | Send Message
     
    "For those industries that have repeatedly abused employees, these premiums may be voluntarily contributed to be joint agreement by both parties as they feel appropriate. "

     

    Uh, no. Unemployment insurance isn't in any way voluntary. What's more is most all industries are required to participate if they've had at least one employee. There are a few exceptions but they are quite limited.
    What I was referring was with the federal contribution to states for extending unemployment benefits upwards of two years, states will have to soon start paying back interest and principal to the federal government. It wasn't a grant but an interest bearing loan. Because of that states that participated in these loans will now have to dramatically increase unemployment taxes to both pay back the loans and to support a new federal mandate of a longer extension for unemployment benefits.
    21 Mar 2011, 06:06 PM Reply Like
  • apberusdisvet
    , contributor
    Comments (2860) | Send Message
     
    I would expect that we will see a lot of verbiage blacked out; national security, dontcha know.
    21 Mar 2011, 12:22 PM Reply Like
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