A federal appeals court in Manhattan ruled today that the Fed must release records of the unprecedented $2 trillion U.S. loan program launched primarily after Lehman Brothers (LEHMQ) failure on Sept. 15, 2008. The ruling also called for the disclosure of all documents identifying financial firms that might have collapsed without the U.S. government bailout.
According to Bloomberg, which had sued to learn the identities of the bailout recipients, the opinion may not be the final word in the bid for the documents since the Fed could now seek a rehearing or appeal to the full appeals court and eventually petition the US Supreme court.
