The Federal Reserve has to release records regarding institutions which received emergency loans. Previously the Reserve had claimed that such records shouldn't be available because it would release proprietary information about individual companies, thus hurting their competitive edge. However, Manhattan Chief US District Judge, Loretta Preska, rejected this argument and gave the institution five days to make the records available..
It isn't often that the all-powerful Federal Reserve doesn't get its way, so this is great news. It is about time that organizations be pushed to at least some level of transparency.
You can read a detailed article on it by following the link below:http://www.bloomberg.com/apps/news?pid=20601087&sid=av_bCYnKeIUk
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