The Fed Loses in Court on Freedom of Information Case

This is excellent news.  I've been following this story for months now, and it's great to see this result.

"When an unprecedented amount of taxpayer dollars were lent to financial institutions in unprecedented ways and the Federal Reserve refused to make public any of the details of its extraordinary lending, Bloomberg News asked the court why U.S. citizens don't have the right to know," said Matthew Winkler, the editor-in-chief of Bloomberg News. "We're gratified the court is defending the public's right to know what is being done in the public interest."

Kudos, once again, to Bloomberg News for its journalistic vigor.  If the Federal Reserve wants to avoid encroachment on its independence, such as Ron Paul's popular oversight bill, it needs to stop believing it can get away with being opaque.