Rhody Trader

There are posts on the Big Picture and Zero Hedge blogs today on the subject of Bloomberg winning a court case against the Fed on Freedom of Information Act grounds in regards to the central bank release the terms of it lending to banks and other institutions. The the Fed has been fighting this sort of disclosure on the basis that it could create competitive disadvantage issues with the borrowers. This, of course, was always the reason why those banks tapping the Discount Window were never revealed.

Here’s my question, though. The Fed isn’t actually a government institution the way I understand it. How does FOIA apply?

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