The Fed must release docs relating to "emergency lending"

From Bloomberg:

The Federal Reserve must make records about emergency lending to financial institutions public within five days because it failed to convince a judge the documents should be exempt from the Freedom of Information Act.

And:

Bloomberg said in the suit U.S. taxpayers need to know the risks behind the central bank’s $2 trillion in lending because the public is an “involuntary investor” in the nation’s banks.

Previously at Bloomberg:

The Fed began expanding its lending programs in August 2007 with the Term Discount Window program. The central bank’s loans don’t have oversight requirements or compensation limits that Congress imposed upon the TARP.

This is going to make some incredibly fascinating, & hopefully, "indictful" reading.

More info from Megan at Va Coalition for Open Government:

At the NFOIC conference in June, Bloomberg's inhouse lawyer, Charles Glasser, was a great panelist on the topic.

Here's a link to the blog coverage on his panel on fiscal transparency.
Video link to fiscal transparency panel.

More from Huffington Post, the docs from the lawsuit Bloomberg v. Fed.