Senator Bernie Sanders of Vermont sponsored a Senate resolution requiring the Fed to disclose the firms to which it lends money. Think of the ramifications of that the next time a firm finds itself short of overnight Fed funds and goes to the discount window. That news would hit the front-page and could turn a one-day liquidity short-fall into a run on the bank. Good thinking, Bernie.
Ben Bernanke has been asked about this issue countless times before Congress and rightly refuses to give an inch on the matter.
