Fox Business sues to get details of bailout. JPM's toxic counterparties revealed?

This might lay bare the sins of some major financial institutions.

http://www.foxbusiness.com/story/ma...ure-respond-freedom-information-act-requests/

 

Bloomberg did the same thing.

 

I think that if the books are opened, we will see such toxic assets in them that people will be shocked and realize that FED itself might be in trouble.

However what choice do they have? If they do not save the system, all else does not matter.

I read a thread few weeks ago, where someone said that starting from a clean slate is not a bad idea, but not if the slate is Mad Max world.

 

Just goes to show the Fed will do what ever they want, people be dammed.