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He said it would be wrong to delay disclosing them.
They also have an incentive to delay disclosing news until after they've bought or sold all they can.
When Mr. Bernanke appears before the House committee, he is likely to be questioned about whether he instructed bank officials to avoid or delay disclosing Merrill's weakened state.
The Bush administration's stalling strategy appears to be very simple: Delay disclosing the requested information by contesting the accounting office's authority.
Last week, a Republican congressman, Darrell Issa of California, released e-mail showing that officials at the New York Fed, then led by Timothy Geithner, pressured A.I.G. to delay disclosing to the S.E.C. and the public the details on the billions of bailout dollars it was funneling to its trading partners.
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Then Fidel Castro accused the Mexican president, Felipe Calder?of having intentionally delayed disclosing the flu epidemic so as not to interfere with President Obama's visit to Mexico.
Demand for I.C.D.'s dropped after manufacturers announced recalls for defects in 2005, including a handful linked to patient deaths that one manufacturer, Guidant, delayed disclosing.
The government has also delayed disclosing the amount of money it has spent on barristers and lawyers to resist the disclosure of the letters in court hearings and the freedom of information tribunal.
The judge noted that while neither man caused the outbreak -- a result of heavy rain and flooding that contaminated a well with manure from a nearby field -- both delayed disclosing problems even as residents fell ill.
For example, in a suit filed in federal court in Los Angeles in February against Morgan Stanley's chief legal officer, shareholders charged that the company had delayed disclosing its exposure to mortgage-backed securities.
ATI Technologies, whose founder is being investigated for insider trading, agreed to pay 900,000 Canadian dollars ($742,120) to settle allegations that it misled investigators and delayed disclosing financial information.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com