This isn’t necessarily a bad thing. Rumors can be very destructive in the financial markets, actually bringing important intermediaries to insolvency with frightening speed. Raw information about who is taking larger than expected Fed loans could quickly become fuel for such rumors, even though there could be underlying reasons for the loans that aren’t signs of impending insolvency at the borrower. Companies release their financial statements quarterly, and it’s probably best to have information about Fed loans released only in conjunction with financial statements, so that they can be evaluated in context.
“Rumors can be very destructive in the financial markets, actually bringing important intermediaries to insolvency with frightening speed. Raw information about who is taking larger than expected Fed loans could quickly become fuel for such rumors,”
That’s just tuff S***. They put their hands out for it. If these financial institutions went to another bank and wanted to keep it private, fine. This is MY money and I want to know where it’s going. If you hide this from the American people on the theory of a “security interest,” then what’s next? When do people simply start “disappearing?”
Thanks for a moment of sanity in this thread. When to release what financial information, and how to release it, is not a good question to be decided by internet forums, it seems...
I share Ron Paul’s views on the Fed - a bad idea through and through. But if we’re going to have a Fed, I agree that their actions need to be reported in proper context.