Search Results for: Dean Baker and Kris Warner

Oct 1 2010

Media Continue Bank Bailout Advocacy

Shunning progressive critics while hailing success of TARP

For corporate media, the verdict is already in: The Troubled Assets Relief Program (TARP), the unpopular program that redistributed some $700 billion of U.S. taxpayer funds upwards, to the very financial institutions that contributed to the worst economic crisis since the Great Depression, is an unabashed success. It is hardly stunning that corporate media would react favorably to one of the biggest boons for big corporations in U.S. history. When the bailout initially failed to make it through Congress in 2008 due to House opposition, journalists quickly accepted and reinforced the narrative that the unpopular legislation—which gave unprecedented power to […]

Jan 1 2009

Going All Out for Bank Bailout

Media paint crisis as too ‘urgent’ for skepticism

During the week of September 15, the country’s economic leaders did a quick 180-degree turn: They went from assuring us that the economy was just fine to telling us that the bottom was about to fall out and a second Great Depression loomed just over the horizon. The one hope was a massive $700 billion bailout package for the banking industry that Treasury Secretary Henry Paulson put forward in a three-page document the following weekend. Once this document was put on the table, corporate media abandoned any pretense of neutrality. With few exceptions, they refused to raise questions about whether […]