Fox Business Network Sues Treasury for Failing to Release Bailout Information

By Vlada Gelman

Fox Business Network has filed a lawsuit against the U.S. Treasury Department.

FBN’s lawsuit claims the Treasury Department failed to provide information on the bank bailout funds and didn’t respond to FBN’s expedited request filed under the Freedom of Information Act.

The initial request was filed on Nov. 25, seeking data on the use of bailout funds for American International Group and the Bank of New York Mellon. Another request was filed Dec. 1 for data on Citigroup’s bailout funds.

“The Treasury has repeatedly ignored our requests for information on how the government is allocating money to these troubled institutions,” Kevin Magee, executive VP of Fox News, said in a statement. “In a critical time like this, amidst mounting corruptions and an economic crisis, we as a news organization feel it’s more important than ever to hold the government accountable.”