It argued disclosure threatened "irreparable harm to these institutions and to the board's ability to effectively manage the current, and any future, financial crisis."

Hi hobbers,

I'm not a lawyer, but the above statement fails to make a convincing argument in support of the FED's request to maintain secrecy, especially since the lack of transparency has proved to be one of the prime factors contributing to the banking and financial crisis. The FED and Treasury applied the similar bullying tactics to strong-arm Congress during the $700 billion TARP.

I would extremely surprised if the eventual verdict in this case favours Blomberg.