For years the IMF and World Bank have rightfully been encouraging borrowing countries to increase the transparency of their governments. I think it is a pretty good idea to know where all of those tax dollars (including the invisible inflation tax) are going. Wouldn't you expect the same in America? Aren't we supposed to be leading those poor developing nations by example. Well, unfortunately, nobody really knows right now how nor where $2 trillion worth of tax payer money has gone for emergency lending during this financial crisis. Bloomberg wants to know, and they have filed lawsuit against the Federal Reserve to find out. The Federal Reserve is currently keeping a very tight lip.
Bloomberg files suit against Federal Reserve
