Court won't reconsider March ruling related to bailout funds

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The Hill:


A federal appeals court won't reconsider a March ruling that requires the Federal Reserve to disclose documents naming financial firms that could've failed without government aid.

The Fed is expected to review the decision and could appeal next to the Supreme Court.

On May 4, the Fed asked the U.S. Second Circuit Court of Appeals to review a unanimous March decision by a three-judge appellate panel that it must release documents showing what firms borrowed from $2 trillion in lending programs started after Lehman Brothers failed in 2008.

The decision was dated Aug. 20. The ruling upheld a decision of a lower-court judge in Manhattan who ordered in August 2009 that the information be released.