How dare the peasants demand to see the books?
The Fed is refusing to disclose the emergency loan information it was ordered to provide by August 31, citing the scare tactic that the disclosure might start a "panic" or a run on the banks:
http://www.bloomberg.com/apps/news?pid=20601087&s…
This is just me thinking out loud, but if the real situation (you know, the one the Fed is trying to cover up) is so dire, wouldn't we be better off knowing about it? I would've thought we didn't have much of an appetite left for unpleasant surprises in this country (ahem, Bear Stearns, Lehman, AIG, et al).
And exactly where is the danger in a run on the banks? Is the Fed afraid they'll run out of ink and have to make an extra trip to Office Depot? It's not like the green paper has to represent any actual value any more...
you know, i used to follow certain conspiracy blogs more for entertainment value and talking points with my coworker next cube over (ie zeitgiest, etc), then listen in on congressional discussions about further transparency objectives re: the fed (geithner's having a live q&a session in DC this sept)..
i would err on the latter group and say see at least there's SOME progress being made and we'd poke fun at the idiot conspirators with nothing better on their hands to make up stupid youtube movies about the fed and this country..
lately, those crazy conspirators have been seeming less loony.
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