Per Bloomberg Article : In another defeat for the illegal Federal Reserve, the New York Court of Appeals refused to consider the central bank's appeal to withhold records relating to the 2008 bank bailouts (amounting to over $2 trillion). The ruling by the Court of Appeals affirmed a decision by a lower court, which ruled that the Federal Reserve must disclose the documents. While this is a temporary victory for transparency and democracy, it could to be short lived as the Fed and its owners (JPMorgan Chase & Co., Bank of America Corp., Citigroup Inc., Bank of New York Mellon Corp., Deutsche Bank AG, HSBC Holdings Plc, PNC Financial Services Group Inc., UBS AG, U.S. Bancorp and Wells Fargo & Co. ) will likely appeal the decision to the Supreme Court. The Fed claims that disclosure of the documents will cause institutions "severe and irreparable competitive injury.” This is nothing but bullshit from the privately owned Fed. The truth is that the bankers (shareholders of the Fed) want their illegal bailouts hidden from the public to avoid congressional scrutiny. Perhaps the tide is turning against the once untouchable Federal Reserve. Or will the Supreme Court sell out America to the bankers again?
Hats off to Bloomberg for taking legal action against the Fed.
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