Treasury Ordered To Turn Over Bailout Records

[Purveyor]

Source: Associated Press

(02-20) 12:32 PST WASHINGTON (AP) --

A federal judge has ordered the Treasury Department to give the Fox Business Network records about how the agency spent billions in bailout money.

The network filed requests under The Freedom of Information Act for records related to the funds spent on American International Group, the Bank of New York Mellon and Citigroup. The network specifically asked the department to identify the troubled assets purchased, any collateral extended and any restrictions placed on the financial institutions for their participation in this program.

U.S. District Judge Richard Holwell ruled Friday that the Treasury must comply with the request by March 23.

Kevin Magee, Fox News executive vice president, responded in a statement that the network "believes it's important to hold the government accountable, especially for use of the bailout funds during this time of steep economic crisis."

Read more: http://www.sfgate.com/cgi-bin/article.cgi?f=/n/a/2009/02/20/national/w122735S55.DTL

[Tempest]

1. Now the question is...

Will Faux News report on the corruption, waste and malfeasance of the Bush administration's Treasury department?

[santamargarita]

10. Hell no, they'll blame President Obama and Clinton

Mark my word, they will spin it around.

[kirby]

2. Most hilarious quote from Fox ever!!!

Kevin Magee, Fox News executive vice president, responded <...> that the network "believes it's important to hold the government accountable,..."

[lark]

15. Yes, that's the story, dish all the dirt on a Dem admin.

close your eyes and go kumbaya to the Repugs.

:puke:

[Donnachaidh]

3. even bigger question -- WHY haven't the other media outlets gone after records?

They let FOX beat them to the punch?

[pasto76]

6. because they will pin it on President Obama

[Donnachaidh]

9. how? If it is the original bailout information it's BUSH's baby. n/t

[terisan]

14. MNSBC owned by GE. GE got big money guarantees from Bailout. nt

[peacetalksforall]

4. It will be very important to keep and broadcast the timeline - we can count on them

to leave out dates and blame EVERYTHING on Obama.

This bailout happened in DECEMBER - in the last month of the Bush administration - BY DESIGN and by THEIR TIMETABLE.

Please, let's assemble the timeline and keep it fresh and ready to use against Fox - we know them to well..

[aquart]

5. Did they keep any?

[marketcrazy1]

7. bloomberg went after the records

he was denied also. even IF they release these records dont hold your breath waiting to find out what they reveal, can you say REDACTED!! or how about NATIONAL SECURITY!! transparency is a joke......

[indepat]

8. Jesus, the courts finally want rapid transparency: it's a shame such comes eight years late

:P

[serrano2008]

11. I think we can blame McCain for this bailout...didn't he suspend his campaign for this one?

That would be great. Bush has enough hits against him so let's share some of the blame for stuff with McCain. It was about the dumbest thing he ever could have done, suspend his campaign and fly back to washington so he could be all over the news looking like a little kid sitting at the grown ups table trying to learn about Finance. Yeah, that bailout was his fault.

[terisan]

13. The Democratic Party leadership passed the bailout and took credit for it. Obama & McCain voted for

The Democrats along with Bush were pro-bailout; many Republicans voted against it and spoke out against it.

Pelosi, Schumer, Frank and many many Dems were forcefully pro-bailout for Wall Street.

[Politicalboi]

12. Well once the info is out there

Someone will have to have the real facts about it. I would hope this report goes onto President Obama's site with all the info without Faux spin. Better yet let's find the 2.3 Trillion dollars missing since 09/10/01. All this bailout money pales to that if it is only 2.3 Trillion. Could be more who knows.

[BootinUp]

16. I wish the judge ruled Fox News out of order

and gave the records to someone responsible instead.