Last week, the U.S. Court of Appeals in Manhattan handed down a ruling ordering the Federal Reserve to give up the names of the financial firms that used the Fed's emergency lending window during the financial meltdown in 2008. Bloomberg News requested the names in November 2008 through a Freedom of Information Act (FOIA) request, which the Fed denied. The Fed argued that releasing this data would discourage companies from using the program, as it would essentially identify which banks were in danger of failing. With its ruling, the Appeals court rejected this argument, and upheld a lower court ruling also ordering the Fed to disclose recipient names.