Fox Business News wins court case against Treasury

[Modelworks]

Win for the consumer. I think Paulson must be looking for a rock to hide under about now.

http://www.foxbusiness.com/sto...foia-lawsuit-treasury/

FOX Business Network has won a victory against the Treasury Department in its Freedom of Information Act request for details about the government?s bailout plan.

Judge Richard J. Holwell of the U.S. District Court for the Southern District of New York said in a decision Friday that the government is directed to comply with FOX Business?s request under the FOIA ?within 30 days and to produce a Vaughn index with 45 days.?

That means Treasury must comply with FOX Business?s request by Monday, March 23, and must produce a Vaughn index by Monday, April 6.

A Vaughn index details which documents have been withheld and why.

FOX Business sued Treasury on Dec. 18 over failure to provide information on the bailout funds or respond to FBN?s expedited requests filed under the FOIA.

The initial request, filed on Nov. 25, sought actual data on the use of the bailout funds for American International Group (AIG: 0.5389, -0.0611, -10.18%) and the Bank of New York Mellon (BK: 22.82, -0.51, -2.19%), and an additional request, filed on Dec. 1, sought similar data on the bailout funds for Citigroup (C: 1.95, -0.56, -22.31%).

FBN asked the Treasury Department to identify, among other issues, the troubled assets purchased, any collateral extended, and any restrictions placed on these financial institutions for their participation in this program.

 

[Fern]

:thumbsup:

 

[StageLeft]

Fox news sucks ass, but hey I give a big :thumbsup: on this, they are not entirely like tits on a bull. Watch out for what the market will do once this info comes out 😛

 

[Drakkon]

Good on Fox Business' part...now lets just hope Paulson didnt "loose the emails" on this one...

 

[sactoking]

Holy crap, they actually did something useful!

 

[2Xtreme21]

Hell yes! Now it's Fox's responsibility to disseminate it to us WITHOUT bias.

 

[Schadenfroh]

:thumbsup:

 

[sactoking]

Originally posted by: 2Xtreme21
Hell yes! Now it's Fox's responsibility to disseminate it to us WITHOUT bias.

Not picking on you, but your statement raised a question:

Now that the judge has ruled in FBN's favor, if anyone is concerned about a conservative bias, can't ANYONE instigate a FIOA request?

 

[sandorski]

I'd LOL if major parts were Blacked out. For numerous reasons.

 

[MovingTarget]

Originally posted by: Skoorb
Fox news sucks ass, but hey I give a big :thumbsup: on this, they are not entirely like tits on a bull. Watch out for what the market will do once this info comes out 😛

Well, if it tanks, they just blame it on Obama. LOLCHANGE!

😛

 

[spidey07]

Originally posted by: sactoking

Originally posted by: 2Xtreme21
Hell yes! Now it's Fox's responsibility to disseminate it to us WITHOUT bias.

Not picking on you, but your statement raised a question:

Now that the judge has ruled in FBN's favor, if anyone is concerned about a conservative bias, can't ANYONE instigate a FIOA request?

Of course they could and there is precedent. So anybody could get this info.

 

[Jhhnn]

Standard posturing. The govt will ask for a stay from the court of appeals, and get it. Years of legal wrangling will ensue, and by the time any information is actually divulged, it'll be ancient history.

 

[bozack]

Originally posted by: Jhhnn
Standard posturing. The govt will ask for a stay from the court of appeals, and get it. Years of legal wrangling will ensue, and by the time any information is actually divulged, it'll be ancient history.

way to go legal system...what a joke, Fox does something right and of course it will get buried in red tape.