Two Years Ago, Fox News Wanted Us to Think of TARP as a “Rescue”
September 30, 2010 at 7:09 PM Leave a comment
Two years ago today, one of Fox’s premier White House stenographers, Neil Cavuto, also known as the “managing editor of business news for the Fox News Channel,” took his queues from the then Bush administration and fellow stenographer Fred Barnes, and tried to reframe the Wall Street bailout as a Wall Street “rescue” (note the chyron):
Three days later, on October 3, 2008, George W. Bush would sign the Troubled Asset Relief Program bill or, TARP, after his Treasury Secretary, Hank Paulson, waved a single piece of paper in front of freaked-out Senators while telling them that the world as we knew it would end if they didn’t vote in favor of the few paragraphs written on it.
Fast forward to today, and the conservative media has succeeded in convincing almost half of all Americans that TARP was passed during the Obama administration (which took office on January 20, 2009).
Bottom line? While Bush was in office TARP was a “rescue.” When the Obama administration took office, it was a BAILOUT, BAILOUT, BAILOUT.
Entry filed under: Corporatocracy, Financial Crisis, Fox "News"/ Fox "Business" /Rupert Murdoch / Wall Street Journal, Our Tax Dollars, President Barack H. Obama and Co., Republicans, Including Wingers & "Moderates". Tags: .
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