Fed Warns Of 'Stigma' In Appeal Over Bailout Docs

Law360, New York (January 11, 2010, 7:57 PM EST) -- A three-judge panel of the U.S. Court of Appeals for the Second Circuit grilled attorneys for the Federal Reserve on Monday, seeking an explanation for why the agency refused to hand over documents related to its emergency lending program to Bloomberg LP and Fox Business Network.

In an almost two-hour hearing, Judges Dennis Jacobs, Peter W. Hall and Richard C. Wesley heard oral arguments from the Fed and the news organizations concerning whether the agency's actions were covered under exemptions to the Freedom of Information Act....
To view the full article, register now.