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FBN has sued the U.S. Treasury Department. What are your predictions for this suit?

FOX Business Network has filed a lawsuit against the United States Treasury Department over failure to provide information on the bailout funds or respond to FBN’s expedited requests filed under the Freedom of Information Act [FOIA].

The initial request, filed on November 25, sought actual data on the use of the bailout funds for American International Group and the Bank of New York Mellon, and an additional request, filed on December 1, sought similar data on the bailout funds for Citigroup, Inc. FBN is asking for the Treasury Department to identify, among other issues, the troubled assets purchased, any collateral extended, and any restrictions placed on these financial institutions for their participation in this program.


Answer Question

Asked by Anonymous at 4:55 PM on Feb. 20, 2009 in Politics & Current Events

Answers (10)
  • Kevin Magee, Executive Vice President, FOX News commented, “The Treasury has repeatedly ignored our requests for information on how the government is allocating money to these troubled institutions. In a critical time like this amidst mounting corruptions and an economic crisis, we as a news organization feel it’s more important than ever to hold the government accountable.”

    Steven Mintz, Esq. of Mintz & Gold LLP, and legal counsel for the network added, “Despite the several requests for expedited information filed by FBN, it has become apparent that the Treasury will not cooperate without mounting legal pressure. Therefore, we have filed a complaint in the Federal Court in New York and ask the Court to make the Treasury provide the information sought by the journalists at FBN.”

    Answer by Anonymous at 4:56 PM on Feb. 20, 2009

  • My reaction is wondering why they feel it's necessary to hide information to media outlets that help to inform the public? FBN sounds like they are in the right (no pun intended).

    Answer by QuinnMae at 4:58 PM on Feb. 20, 2009

  • Bloomberg sued first.

    Answer by smalltowngal at 5:00 PM on Feb. 20, 2009

  • Well, now that Obama is President , he is all about Transparency. He will make this right!!! He won't let this happen on his watch, Right? Ohh no, he isn't calling for action? is not at all what he promised?  Well Barney Frank and Chris Dodd are in the Senate Finance, they will call for action on behalf of the people! Errrr....  Ohh wait, they aren't interested either? Hrmmmm.... I wonder where the CHANGE we can Believe in might be??



    Answer by grlygrlz2 at 5:20 PM on Feb. 20, 2009

  • Neither party care about change.

    Answer by smalltowngal at 5:40 PM on Feb. 20, 2009

  • I'm surprised they waited this long. The absolute limitation on these things is 6 weeks, and that's only in extreme circumstances. The true legal deadline is 4 weeks, but they can grant exceptions if a department is completely bogged down. Their first request is already 6 weeks past the "extreme" due date. Now the question will be, if they do pony up those records, how much doctoring did they do?

    Answer by NotPanicking at 6:35 PM on Feb. 20, 2009

  • Bloomberg sued first.

    Bloomberg sued the Fed. The Treasury will have a lot less wiggle room than they did because they are a direct office of the branch.

    Answer by Anonymous at 6:58 PM on Feb. 20, 2009

  • I love Fox

    Answer by lovinangels at 11:01 PM on Feb. 20, 2009

  • Fox won!


    Answer by sgalsmommy at 11:55 PM on Feb. 20, 2009

  • Yeah, Fox!
    Can't wait to see what they find once they get the info. I think the Treasury has 30 days to comply

    Answer by patobello at 12:26 PM on Feb. 21, 2009

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