writes a daily business newspaper RBC daily, the claim was filed against the Fed, after officials refused to provide journalists with Bloomberg detailed information about the gigantic financial injections into the banking sector, which U.S. authorities carried out within the framework of crisis management. At the end of last week, this assistance has already exceeded $ 2 trillion in eleven different programs.
Financial institutions allocated an unprecedented amount of taxpayer money, and the Fed is reluctant to provide at least some parts. So we asked the court why U.S. citizens have no right to know how their money, - said in a statement chef editor of Bloomberg News, Matthew Winkler. Chief U.S. District Judge Loretta Manhattan Preskov sided with journalists who insisted on respect for freedom of information law (it requires officials to disclose certain documents), and the Fed's arguments that disclosure of such information could hit the market positions of a number of banks have been rejected.
In certain cases the authorities may refuse to allow you to provide information, as a rule, when it comes to national security, but this is not the case. They do not have the CIA asked for the money spent, - shared his opinion with RBC daily Attorney Sullivan Co. (Miami) Francis Boyer. - Even if this information is really hurt by some banks, that is no excuse. If you are a businessman, you can learn in state agencies some information about your competitors (say, from the Patent Office) it can also weaken their competitive position, but it does not deprive you of the right to information.
Under court order, adopted on Tuesday, within five days, the Fed must make public a list of recipients of state aid, information on loans and collateral. This decision was greeted with applause not only from the American media community, but also a number of congressmen.
Meanwhile, the case Bloomberg against the Fed is notable not only as a judicial victory of journalists over the officials, but also as a case of the first loud conflict between the media and financial regulators. Before that was known mainly litigation between the press and private financial institutions, like the conflict in 2004 between the publishing house Kommersant and Alfa-group or between the Financial Times and the bank Collins Stewart. In both cases the media were not plaintiffs and defendants: banks accusing them of reputational and financial damage.
Recommendations for market shares: LUKoil, Norilsk Nickel, Rostelecom, Gazprom, Mosenergo, Surgutneftegaz, Sberbank Finam share investment ideasStroitransgaz sold to Rosneft 50% in the joint venture in Algeria for $ 200 millionFurther dynamics of the indices will largely depend on the behavior of oil quotationsAfter optimism on Asian markets we see growth in the U.S. futures indices: SP 0,34%Yesterday, the euro /dollar at the U.S. session dropped to 1.4300Tigipko: Banks will be able to circumvent exchange restrictions by the NBU administration dopkomissyThe world financial crisis: signs of recovery or self-deception?
Resume demand growth in major countries have not yet succeeded. What's next ?..
Activity in the markets sluggish and uncertain sentiment persists today in the scanty information plan
U.S. Federal Reserve will publish data on assistance to commercial banks
writes a daily business newspaper RBC daily, the claim was filed against the Fed, after officials refused to provide journalists with Bloomberg detailed information about the gigantic financial injections into the banking sector, which U.S. authorities carried out within the framework of crisis management. At the end of last week, this assistance has already exceeded $ 2 trillion in eleven different programs.
Financial institutions allocated an unprecedented amount of taxpayer money, and the Fed is reluctant to provide at least some parts. So we asked the court why U.S. citizens have no right to know how their money, - said in a statement chef editor of Bloomberg News, Matthew Winkler. Chief U.S. District Judge Loretta Manhattan Preskov sided with journalists who insisted on respect for freedom of information law (it requires officials to disclose certain documents), and the Fed's arguments that disclosure of such information could hit the market positions of a number of banks have been rejected.
In certain cases the authorities may refuse to allow you to provide information, as a rule, when it comes to national security, but this is not the case. They do not have the CIA asked for the money spent, - shared his opinion with RBC daily Attorney Sullivan Co. (Miami) Francis Boyer. - Even if this information is really hurt by some banks, that is no excuse. If you are a businessman, you can learn in state agencies some information about your competitors (say, from the Patent Office) it can also weaken their competitive position, but it does not deprive you of the right to information.
Under court order, adopted on Tuesday, within five days, the Fed must make public a list of recipients of state aid, information on loans and collateral. This decision was greeted with applause not only from the American media community, but also a number of congressmen.
Meanwhile, the case Bloomberg against the Fed is notable not only as a judicial victory of journalists over the officials, but also as a case of the first loud conflict between the media and financial regulators. Before that was known mainly litigation between the press and private financial institutions, like the conflict in 2004 between the publishing house Kommersant and Alfa-group or between the Financial Times and the bank Collins Stewart. In both cases the media were not plaintiffs and defendants: banks accusing them of reputational and financial damage.
Recommendations for market shares: LUKoil, Norilsk Nickel, Rostelecom, Gazprom, Mosenergo, Surgutneftegaz, Sberbank
Finam share investment ideas
Stroitransgaz sold to Rosneft 50% in the joint venture in Algeria for $ 200 million
Further dynamics of the indices will largely depend on the behavior of oil quotations
After optimism on Asian markets we see growth in the U.S. futures indices: SP 0,34%
Yesterday, the euro /dollar at the U.S. session dropped to 1.4300
Tigipko: Banks will be able to circumvent exchange restrictions by the NBU administration dopkomissy
The world financial crisis: signs of recovery or self-deception?
Resume demand growth in major countries have not yet succeeded. What's next ?..
Activity in the markets sluggish and uncertain sentiment persists today in the scanty information plan