FOIA Lawsuit

[AdamA]

I'm not sure what I think about the actual decision, but this is another good example of things turning out in an unexpected manner.

http://www.bloomberg.com/news/2011-04-0 ... cited.html

[TBV]

I'm sure the investing public would have preferred to be told that putting their money in Enron or Bernie Madoff's fund was riskier than anyone imagined.  Why then is it any different when the entity in question is a bank?  The public should avoid banks that are on the verge of collapse. And the government should not be complicit in attempts to manipulate public perceptions to make things seem rosier than they are.

To those who might reply that the Fed is not the government, but a private organization, I would say true enough.  However, if the public really understood the implications of that fact, there would be an uproar that so much economic power was in the hands of such a secretive body.