Keeping it secret

William Cohan who has written three books about the 21st century world of finance has a lot to say about the ineffectiveness of requests made under the Freedom of Information Act vis-a-vis the SEC and the Federal Reserve. It's really very sad to read about the lack of cooperation by these agencies.  Essentially, it seems they are not willing to abide by the law.  Here are some questions Cohan was hoping to answer:

Where are the documents and e-mails about how Goldman was allowed by the Fed to become a bank holding company? Where are the documents from the SEC about Goldman? Where, for that matter, are the SEC documents related to the short-dated, out-of-the-money puts that investors spent millions of dollars buying in the last week of Bear Stearns’s existence? The SEC said it was investigating who bought and sold these puts, but it has never made the results of its investigation public despite my FOIA request.

Need I say he was unsuccessful in getting answers.