Making the bailout more transparent
It’s old news — several trillion dollars ago — but back in 2008 the Federal Reserve, Treasury and the FDIC started working in tandem on a series of measures to stabilize the financial system. The Federal Reserve’s aid is doled our or loaned out in secrecy, despite the dogged attempts of Bloomberg News to pry loose the data; the FDIC has released some, thanks to a Freedom of Information Act request filed by our colleagues at SubsidyScope.com.
You can download data in a CSV format on more than 14,000 banks to see if they’re participating in the FDIC’s Temporary Liquidity Guarantee Program, or TLGP–I made a nifty little map of the participating banks available here, using DabbleDB (if I had zip codes for the banks, it would be much cooler).
Check out the rest of SubsidyScope.com — including their attempt to makes sense of what the Fed is up to.