Daily Archives: December 2, 2010

Spin (Update)(x2)

In a full bore propaganda assault worthy of the waning days of a moribund Pravda, the Washington Post “reports” on the data released yesterday by the Federal Reserve.

It sets the tone in the headline:  “Fed aid in financial crisis went beyond US banks to industry, foreign firms”.

Let’s see.  $16 billion to GE.  $2.3 billion to Harley Davidson.  $1.5 billion to Verizon.

Out of, literally, trillions, all to banks both domestic and foreign.  Practically nothing went to anyone other than big banks.

You’d think they would be embarrassed to try to spin this.  The data are so clear.  But there’s no shame here.  That mouthpiece of the federal government, the Washington Post, thinks it can spin anything.

As propaganda goes I have to say it is a masterful attempt.  Continue reading


Filed under financial crisis