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Article: Federal Reserve maintains total secrecy on IMF bailout
- Article from:
- Human Events
- Article date:
- February 27, 1998
- Author:
CopyrightCopyright Human Events Publishing, Inc. Feb 27, 1998. Provided by ProQuest LLC. (Hide copyright information)
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Officials of the Federal Reserve Bank in New York have informed HUMAN EVENTs that there are no minutes, documents, or notes pertaining to a December 24 meeting at the bank attended by senior executives of six U.S. commercial banks that have large debt exposures in Asia.
The bank also declared that it is immune from the Freedom of Information Act and therefore would not have to surrender any documents about the meeting even if they existed.
On December 24, Fed officials and senior executives of six commercial U.S. banks gathered at the New York Federal Reserve Bank with its director, William McDonough, to discuss the economic crisis in Asia, where those six banks alone have at least $100 ...