Federal Reserve doesn’t understand what ‘transparency’ means

It’s not a surprise that they used the annoying “Goldman Sachs model” that everyone hated. That’s their point. Ask for details on how American taxpayers saved the bankers and heaven forbid you give simple answers. The Fed was forced to provide details on who borrowed to save their skin and this is what happens. An obnoxious dump of data. The Fed should not have even had to be forced into providing this data, but that’s the type of crowd we have today in power. What genius thought it made sense to re-nominate Bernanke?

The disclosure came in the form of computer disks handed to reporters in Washington, DC. Those disks contained nearly 900 PDF files that must be individually opened and read. The files include tables with loans made by the Fed, as well as emails between Federal Reserve officials. The disks aren’t searchable and the Fed didn’t include an index.

The release of the data in such a user-unfriendly manner is reminiscent of the way Goldman Sachs dumped tens of thousands of documents on the Financial Crisis Inquiry Commission. The commissioners publicly scolded the investment bank for the document “dump.”

An American in Paris, France. BA in History & Political Science from Ohio State. Provided consulting services to US software startups, launching new business overseas that have both IPO’d and sold to well-known global software companies. Currently launching a new cloud-based startup. Full bio here.

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