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Fed vs. Bloomberg

Fed vs. Bloomberg

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Published by TheBusinessInsider

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Published by: TheBusinessInsider on Mar 19, 2010
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09-4083-cv; 09-4097-cvBloomberg L.P. v. Board of Governors of the Federal Reserve System
1
UNITED STATES COURT OF APPEALS
23
FOR THE SECOND CIRCUIT
45August Term, 200967(Argued: January 11, 2010 Decided: March 19, 2010)89Docket No. 09-4083-cv; No. 09-4097-cv (CON)101112- - - - - - - - - - - - - - - - - - - -x13BLOOMBERG, L.P.,1415Plaintiff-Appellee,161718- v.-19BOARD OF GOVERNORS OF THE FEDERAL20RESERVE SYSTEM,2122Defendant-Appellant,232425and2627THE CLEARING HOUSE ASSOCIATION L.L.C.,2829Intervenor-Appellant.3031- - - - - - - - - - - - - - - - - - - -x32Before:JACOBS, Chief Judge, LEVAL and HALL,3334Circuit Judges.3536
Defendant Board of Governors of the Federal Reserve
37
System appeals from a judgment entered August 24, 2009 in
38
favor of plaintiff Bloomberg, L.P., by the United States
39
District Court for the Southern District of New York
 
2
1
(Preska, Ch.J.) compelling
disclosure under the
Freedom of
2
Information Act
of information about loans made by the3Federal Reserve Banks. We affirm, holding that the4information sought does not fall within the
Act’s
Exemption54.67THOMAS H. GOLDEN, Willkie Farr &8Gallagher LLP, New York, NY;9(Charles J. Glasser, Jr., Global10Media Counsel, Bloomberg News,11New York on the brief), NY for12Plaintiff-Appellee.1314MATTHEW M. COLLETTE (Tony West,15Mark B. Stern on the brief),16Department of Justice,17Washington, D.C.; YVONNE F.18MIZUSAWA (Richard M. Ashton,19Katherine H. Wheatley on the20brief), Board of Governors of21the Federal Reserve System,22Washington, D.C., for Defendant-23Appellant.2425ROBERT J. GIUFFRA, JR. (H.26Rodgin Cohen, Michael M.27Wiseman, William J. Snipes,28Patrice A. Rouse, Erez J. Davy29on the brief), Sullivan &30Cromwell LLP, New York, NY, for31Intervenor-Appellant.3233Melanie Sloan, Anne L. Weismann,34Citizens for Responsibility and35Ethics in Washington,36Washington, D.C., for Amicus37Curiae Citizens for38Responsibility and Ethics in
 
3
1Washington in support of2Plaintiff-Appellee.34David A. Schulz, Alia L. Smith,5Levine Sullivan Koch & Schultz,6LLP, New York, NY for Amici7Curiae Advanced Publications,8Inc., American Society of News9Editors, Dow Jones & Company,10Inc., Gannett Company, Inc.,11Hearst Corporation, Magazine12Publishers of America, Inc.,13National Newspaper Association,14Reports Committee for Freedom of15the Press, Reuters America LLC,The Association of Alternative1617Newsweeklies, The Associated18Press, The National Conference19of Editorial Writers, and the20New York Times Co. (Press21Amici) in support of Plaintiff-22Appellee.2324Cory L. Andrews, Daniel J.25Popeo, Washington Legal26Foundation, Washington, D.C.,27for Amici Curiae Washington28Legal Foundation and Allied29Educational Foundation in30support of Plaintiff-Appellee.3132C. Dawn Causey, Gregory Taylor,33American Bankers Association,34Washington, D.C., for Amicus35Curie American Bankers36Association in support of37Defendant-Appellant and38Intervenor-Appellant.394041DENNIS JACOBS, Chief Judge:42
The Federal Reserve System--the central bank of the

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