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November 10, 2011

NY Times Says Obama Bailed Out Banks

-- by Dave Johnson

The conventional wisdom machine in operation: No bailouts, Republicans agree at debate in Michigan

On a day when the stock market plummeted amid fears that Greek and Italian debt might bring European financial institutions to collapse, the candidates each rejected the idea that the United States should intervene to help, arguing that U.S. taxpayers should not be responsible for the missteps of foreign countries and companies and that the Obama administration’s bailouts of banks here two years ago amounted to government overreach.

The fact that a NY Times reporter has been tricked by the Republican misinformation machine, on something as well-known and important as this, is significant.

Note this article has been changed: (was reporter fired?)

This article has been revised to reflect the following correction:

Correction: November 10, 2011


An earlier version of this article incorrectly attributed the bank bailouts of two years ago to the Obama administration. The Bush administration was responsible for the initial bank bailouts, and the Obama administration followed with additional bailouts.


Posted by Dave Johnson at November 10, 2011 10:34 AM


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