Below is a copy of the actual judgment in the Bloomberg News vs. Fed FOIA case.  The case is: Bloomberg LP v. Board of Governors of the Federal Reserve System, U.S. District Court, Southern District of New York (Manhattan), No. 08-9595.
Hat tip Barry Ritholtz and Zero Hedge.
Bloomberg FOIA Lawsuit Decision
Share

This just in from Bloomberg:
The Federal Reserve must make public reports about recipients of emergency loans from U.S. taxpayers under programs created to address the financial crisis, a federal judge ruled.
The case is: Bloomberg LP v. Board of Governors of the Federal Reserve System, U.S. District Court, Southern District of New York (Manhattan), No. [...]

I intended to write this post about high frequency trading. The idea was to link to a very enlightening podcast that aired yesterday on “Taking Stock” with Pimm Fox on Bloomberg Radio. Tyler Durden of Zero Hedge was on the program talking to Pimm about what High Frequency Trading is, who the participants are and [...]

In the video below, William Black, a well-known Associate Professor of Economics and Law at the University of Missouri – Kansas City and former top regulator at of the Federal Home Loan Bank Board during the S&L crisis, holds court.
His basic premise: the bailouts have been a massive transfer of wealth from the middle class [...]

This is part two of the End of Wall Street series the Wall Street Journal is producing.
Chapter Two of A WSJ series: What was going through the minds of CEOs, corporate boards, fund managers and mortgage lenders as they created hard-to-understand derivatives Warren Buffett once called “weapons of financial mass destruction.”
You have to love how [...]

Here’s a credit-crisis video retrospective from the Wall Street Journal. It is chapter one of a three part series.  Notice the Wall Street meme that subprime borrowers caused the crisis which is patently false.  It’s all about dodgy credits and Fannie and Freddie? Total rubbish. 
But, of course, if you say it enough, people might [...]

13-minute video from the Wall Street Journal.
Related stories:

Iceland warms to Europe
Iceland to hand bank stakes to creditors
Iceland’s rehabilitation

Share

This just hit the wires.
NEW YORK–(BUSINESS WIRE)–CIT Group Inc. (NYSE: CIT), a leading provider of financing to small businesses and middle market companies, today announced that it entered into a $3 billion loan facility provided by a group of the Company’s major bondholders. CIT further announced that it intends to commence a comprehensive restructuring of [...]

The Investors’ Working Group, an independent coalition of leading lights in economic policy and finance has issued a final paper of recommendations on regulatory reform in the United States.  They do NOT want the Federal Reserve as Systemic Risk Regulator (SiRR) because the Fed has been “tarnished” by a reckless campaign of “easy credit” and [...]

Last week, I followed up Yves Smith’s excellent post on “Why Big Capital Markets Players Are Unmanageable” with “More on why big capital markets players are unmanageable.”  I would like to extend the discussion beyond the U.S. border into a look at how the universal banking model abroad encroached on the U.S. banking system and [...]