Some Good News Concerning the Fed

Maybe we have to use the courts to get the transparency that Obama promised would be the hallmark of his administration.

The Federal Reserve must for the first time identify the companies in its emergency lending programs after losing a Freedom of Information Act lawsuit.

Manhattan Chief U.S. District Judge Loretta Preska ruled against the central bank yesterday, rejecting the argument that loan records aren’t covered by the law because their disclosure would harm borrowers’ competitive positions.

It is nice to hear some good news for a change.