Fox Business Network announced Thursday it is suing the Treasury Department for documents related to the $700 billion financial bailout plan.
As reported by Fox and Dow Jones, the federal Freedom of Information Act suit seeks information on the funds Citigroup, American International Group (AIG) and the Bank of New York Mellon received in the bailout and the conditions to which they agreed.
Kevin Magee, executive vice president for Fox News, said in a press release: “The Treasury has repeatedly ignored our requests for information on how the government is allocating money to these troubled institutions. 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.”
The suit was filed in federal court in New York.
Bloomberg News is suing the Federal Reserve Board in a similar dispute.