Fed and cronies will fight it every step of the way. If they had nothing to hide, they would have disclosed the information a while ago. Another reason it is important for HR1207 to pass. Fed acts as if it's above the law playing by it's own rules. Taxpayers and general public end up paying as can be seen in the past, is being seen now and will be seen again.
Taxpayers can't know who got 7 Trillion of their money. It would "undermine confidence". Government intervention in free-markets created and prolonged this crisis. And soon, be responsible for the next bubble. The best solution was to let Banks fail. Let all CDS-sellers pay up. Let real estate crash. Yes, it would have been more severe, although only marginally. Government-backed guarantees for failing banks could have been instituted for XX days, then withdrawn. Small depositors are FDIC insured. HNW and Corps would have a known time-frame to bail. With a Great Purge, America could secure 1 or 2 decades of conservative lending, responsible underwriting, and a much STRONGER economy. Instead, Bernacke will deliver another Bubble (third in a decade), which will be even more calamitous then those prior. Just to "Save the Banks". How about Free-Market Capitalism? How about Banks sink or swim based on loan performance? How about Lenders pay for their own reckless decisions, instead of Taxpayers? You know, Capitalism?! Banks Own Congress. Banks Own the Fed. Which explains the Special Treatment.
Alinsky wrote in his rules for radicals, "paralyze the enemy by making him abide by his own rules"... I say we take that idea and run with it. Here come da Judge, here come da Judge!