Fox Business sues Fed

I mentioned it before here, Bloomberg has already sued the Fed because they refuse to disclose any information about the assets they have on their balance sheets and the companies they are being them from, and now, it is the turn of Fox to do so as well. According to the report, they have also sued the Treasury back in December 2008, which is something that I didn't know...

Fox Busuiness sues the Fed (emphasis mine):

WASHINGTON, Jan 12 (Reuters) - News channel Fox Business Network sued the U.S. Federal Reserve on Monday, saying that the government has failed to release details on financial companies receiving federal funds.

Fox said it made an initial request on Nov. 10 last year under the Freedom of Information Act. The network asked for the identification of the financial institutions receiving funds and details on the collateral provided by these firms between August 2007 and November 2008.

The network made a second request on Nov. 18, asking for more information on financial firms that received lending from Fed programs. It also asked for the amount of collateral held by the Fed as of Nov. 14.


Fox filed a similar lawsuit in December against the U.S. Treasury Department for what it called a failure to respond to repeated requests for information on how it has allocated the $700 billion bailout fund.

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