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Ron Paul to Hold Hearing on Fed Lending

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    FBN’s Diane Macedo breaks down the latest from Capitol Hill.

  • Duration 4:01
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News that's right -- congressman Ron Paul is looking for more information about the emergency loans the Federal Reserve made to banks during the financial crisis.

Robert -- our newsroom with more details on the hearing to be held today on the issue.

Robert what kind of information is -- looking for an of this hearing.

Well -- -- -- as if he bears his knuckles in this hearing today -- certainly try to get more information about loans or made emergency loans during the height of the financial crisis in fact he strain that.

House financial services sub committee on domestic monetary policy.

The -- wants to find out more about these -- -- -- unearthed by the way by a two year Freedom of Information Act a legal battle led by Fox Business.

Most of the loans went to the biggest US banks but at the height of the crisis too big European mixture down the big a short term loans.

-- -- most astounding thing that we see in these documents is.

So much of -- went to the -- banks you know it looks like that's on the New York he was doing the New York fed was doing.

-- this the this whole system was bailing out.

Foreign banks.

And days of course -- -- do the confidential lending system the emergency loan system known as the discount window.

Lender of last resort if you -- the Fed doesn't get full disclosure that hearing today Diane.

Representative Paul has threatened do you subpoena power to get those details.

Back to -- thanks Robert.

And -- -- they -- executive chairman Eric Schmidt took the stage at the all things digital conference in California he just many issues in his talk including privacy.

Google will remain a place -- you can do anonymous services that we don't know anything about you.

And we're very committed to having you have control over the information we have about you.

From our perspective the ultimate answer is transparency we tell people we know.

-- also admitted he quote screwed up as CEO of the search giant because he didn't take that threat -- FaceBook seriously.

And now we have some deal news to tell you about this morning packaging company Sealed Air is buying diversity for four point three billion dollars diversity makes cleaning products.

Our Ontario that breaking this point four billion dollar deal also that is Khalid Sheikh Mohammed is facing -- terrorism in number order charges those charges against him and four others.

We're dropped back in 2009 when the Obama administration wanted to close down Guantanamo Bay and and tried these Seth people in new York and now the five men are gonna -- sure tried on refile counts.

In front of a military commission all five currently are being held that gitmo and could be combined into one trial this could be combined into one trial.

Last -- -- New York Donald Trump and -- -- and eighty some pizza together they had dinner.

And met for about fifty minutes -- trump tower before that talking about the economy.

Ellen says they agree on ideas for turning the economy around trump says he hopes Palin runs for president.

But then the Donald stopped short of actually saying he would support her if she did but he did a pizza with -- last night so.

They -- space shuttle endeavor landing safely back on -- for the final time this morning the crew of the endeavor including the husband of congresswoman Gabrielle Giffords.

Spending more than two weeks at the International Space Station.

In early July Atlantis takes off for the final flight and NASA space shuttle program.

And as you mentioned the Miami Heat taking -- lead the NBA finals beat the mavericks last night.

In game 192.

To 84 LeBron James and Dwyane Wade -- the combined for 46 points between them.

There's a broad -- and from long range but it was their defense that ended up winning the game down the stretch shutting down the mavericks and game -- will be tomorrow night.

In Miami and the heat up one game to none let's get a check now.

Other weather forecaster -- the catcher we have Maria Molina standing by in the Fox Business weather center good morning Maria.

Good morning -- -- we do have another unsettled day across actually another warm across northeast with a very warm temperatures.

High at 88 degrees today in New York -- 91 in Philadelphia and you aren't gonna have a cold front rolling through later on this afternoon so that's on some thunderstorms.

We'll fire out I think -- delays in -- the airports and some of those thunderstorms -- severe.

Otherwise less of -- cold front Chicago Detroit drying out temperatures much more pleasant today now in the seventies -- All right Maria thank you for that now he's a regular.

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