Judge says Fed must divulge bailout beneficiaries
Today a New York district court judge ruled that the Federal Reserve Board must provide records identifying financial firms that received bailout money.
According to a Bloomberg story, the Feds refused to provide the records to Bloomberg, saying that if the public knew which companies took loans then it might shake confidence in those companies. The judge decided that it's more important that the public know where it's money is going.
Courts have previously denied access to these records, so it's possible this might get appealed to the U.S. Circuit Court of Appeals. In any case, this is a victory for the public's right to know who is benefiting from its tax dollars.