"Information provider Bloomberg has started a fight with the Federal Reserve that may turn some stones in the secretive private organisation that has never been audited.

"Bloomberg had asked the Fed to see documents concerning the collateral the Fed accepts in exchange for freshly digitized credit in its bailouts.

"Federal Reserve first insisted a Freedom Of Information Act (FOIA) request and then said the data required is from the Fed New York which does not fall under the FOIA" -Toni Straka, CEFA