4/1/2010

For the first time, the Federal Reserve released detailed information about individual securities acquired in the rescues of American International Group and Bear Stearns. Fed officials had resisted releasing the information, arguing it would harm the ability of the central bank to maximize value to taxpayers. The Fed, prompted by a lawsuit, shifted gears. "The Federal Reserve recognizes the importance of transparency to its financial stability efforts and will continue to review disclosure practices with the goal of making additional information publicly available when possible," according to a statement from the Federal Reserve Bank of New York.

Related Summaries