October 28, 2011 | Case

McKinley v. FDIC and Federal Reserve (No. 09-1263) - records regarding FDIC approval of Wachovia takeover and Federal Reserve approval of Bear Stearns bailout

Freedom of Information Act (FOIA) lawsuit requesting records regarding the FDIC’s approval of the Wachovia takeover and the Federal Reserve’s approval of the Bear Stearns bailout.The FDIC was dismissed from the case following their response and production of records, however, the Federal Reserve continued to fight the case, and the court found in their favor in September 2010. Judicial Watch appealed the case in January 2011.The US Supreme Court let stand an appellate court ruling in a similar FOIA case regarding documents requested by Bloomberg News from the Federal Reserve. The appellate court ruled that the Federal Reserve must disclose details about its lending policies during the financial crisis.