A beam of sunlight for the bailout. (cover story)
- Resource Type
- Article
- Authors
- BERGMAN, HANNAH
- Source
- News Media & the Law. Winter2009, Vol. 33 Issue 1, p11-13. 3p.
- Subject
- *FINANCIAL bailouts
*TRANSPARENCY in government
*GOVERNMENT accountability
*GOVERNMENT & the press
*REPORTERS & reporting
- Language
- ISSN
- 0149-0737
The article examines the impact of the transparency initiatives of U.S. President Barack Obama on the bailout action on the financial industry. Patrice McDermott, director of OpenTheGovernment.org, believes that the public must be informed of the whole process to ensure accountability particularly in the Federal Reserve Board of Governors (Fed). The Treasury Department released documents detailing the transactions involved in the bailout. It cites the suits filed by Bloomberg News and Fox News against the Fed when it denied their Freedom of Information Act requests for documents related to banks. INSET: The bailout.