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Banking Morality

The double standards that exist between banks and ordinary Americans are many.  People like Todd Zywicki and Megan McArdle continue fighting for the banks right to live under a separate "code" of (dis)honor.  Here is the banks' latest attempt: A group of the largest commercial banks asked the U.S. Supreme Court to let the government continue to withhold details of emergency loans the Federal Reserve made to financial firms in 2008. You, me, and everyone else has a credit report.  Banks keep detailed records about our borrowing and spending.  They will not loan anyone money who does not have a credit report.  How else can they assess the risk of making a loan? The bank group is appealing a federal judge?s August 2009 ruling requiring the Fed to disclose records of its emergency lending...continue to full post

Full post as published by Crime & Federalism on October 26, 2010 (boomark / email).