you mean it isn't already public knowledge???

[rone]

God bless Bernie Sanders:

A U.S. senator berated Federal Reserve Chairman Ben Bernanke on Tuesday for refusing to name banks that borrow from the central bank and introduced legislation that would require public disclosure.

[...]

When Sanders pressed on whether Bernanke would name the firms that borrowed from the Fed, the central bank chairman replied, "No," and started to say that doing so risked stigmatizing banks and discouraging them from borrowing from the central bank.

OH NOES!!!  Poor stigmatized banks don't need the further shame!! :(((

Comments

[eagle]

Well, to play devil's advocate, the government has been very careful since the Great Depression to never disclose which particular banks are in financial trouble in order to avoid provoking a run on vulnerable institutions that could otherwise be salvaged. The FDIC doesn't disclose the names of banks that are in trouble and in danger of being shut down until they actually shut them down and have arranged the transition either, and this is a somewhat similar case.

That's a spectacularly bad way of explaining it, though.

it points in the right direction...

[drieuxster.livejournal.com]

since the FDIC is also a quasi-NGO like the Fed.

[ronebofh.livejournal.com]

If there's one thing we've learned from this crisis, it's that all the banks are so tightly entwined with each other that trying to single one out would be unfair and pointless. Besides, we already know Citigroup and AIG are fucked; how much worse would full disclosure be at this point?