It’s mid-October, and the Wall Street bailout that was supposed to save the economy from collapse is a flop... Senate passage came on Thursday, Oct. … - Norman Solomon

" "

It’s mid-October, and the Wall Street bailout that was supposed to save the economy from collapse is a flop... Senate passage came on Thursday, Oct. 2...President Bush signed the $700 billion Wall Street bailout into law... Despite all the media hype about how the bailout measure would quickly steady the stock market, it fell and kept falling... the Dow made history as stocks plunged by 18 percent in five trading days. And what about the ostensible main reason for the humongous bailout... unfreezing the credit markets? Well, in spite of the enormous media outcry..., it didn’t. And the key economic factor in the recession — housing — remained just as stuck as before. As the Institute for Policy Studies pointed out on Oct. 1, “A real ‘bailout’ would target the troubled households of working American families. A $200 billion ‘Main Street Stimulus Package’ could bolster the real economy and those left vulnerable by the subprime mortgage meltdown.” Components of such a stimulus package could include “a $130 billion annual investment in renewable energy to stimulate good jobs anchored in local economies and reduce our dependency on oil” — and “a $50 billion outlay to help keep people in foreclosed homes through refinancing...” — and “a $20 billion aid package to states to address the squeeze on state and local government services that declining tax revenues are now forcing.” But that kind of discourse for grassroots economic stimulus hasn’t gotten into the media storyline...

English
Collect this quote

About Norman Solomon

Norman Solomon (born July 7, 1951) is an American journalist, media critic, activist, and former U.S. congressional candidate. Solomon is a longtime associate of the media watch group Fairness & Accuracy In Reporting (FAIR). In 1997 he founded the Institute for Public Accuracy, which works to provide alternative sources for journalists, and serves as its executive director. Solomon's weekly column, "Media Beat", was in national syndication from 1992 to 2009. In 2012, Solomon ran for Congress in California's 2nd congressional district. He attended the 2016 and 2020 Democratic National Conventions as a Bernie Sanders delegate. Since 2011, he has been the national director of RootsAction.org.

Unlimited Quote Collections

Organize your favorite quotes without limits. Create themed collections for every occasion with Premium.

Related quotes. More quotes will automatically load as you scroll down, or you can use the load more buttons.

Additional quotes by Norman Solomon

For several decades, Helen Thomas covered the White House as a reporter for United Press International.... and when the specter of war grew large in 2002, she didn’t hold back. “It’s bombs away for Iraq and on our civil liberties if Bush and his cronies get their way,” Thomas said... during a speech at MIT. Looking back on a long career, she said: “I censored myself for fifty years when I was a reporter.” Although we may want journalists to keep their personal opinions out of news reporting, we might expect to be provided with all the relevant facts. This is rarely the case. A lot of key information gets filtered out. The process is often subtle in a society with democratic freedoms and little overt censorship. “Circus dogs jump when the trainer cracks his whip,” George Orwell remarked more than half a century ago, “but the really well-trained dog is the one that turns his somersault when there is no whip.” No whips are visible in America’s modern newsrooms and broadcast studios. There are no leashes on editors, reporters, producers, or news correspondents. But in mainstream media, few journalists wander far... Conformity becomes habitual. Among the results is a dynamic that Orwell described as the conditioned reflex of “stopping short, as though by instinct, at the threshold of any dangerous thought . . . and of being bored or repelled by any train of thought which is capable of leading in a heretical direction.” p. 21

A bellicose stance toward Russia has become so routine and widespread that we might not give it a second thought... Often the biggest lies involve what remains unsaid. For instance, U.S. media rarely mention such key matters as the promise-breaking huge expansion of NATO to Russia’s borders since the fall of the Berlin Wall... or the more than 800 U.S. military bases overseas -- in contrast to Russia’s nine...

Works in ChatGPT, Claude, or Any AI

Add semantic quote search to your AI assistant via MCP. One command setup.

In contrast to state censorship, which is usually easy to recognize, self-censorship among journalists is rarely out in the open. Journalists tend to avoid talking publicly about constraints that limit their work; they essentially engage in self-censorship about self-censorship. In the highly competitive media environment, you don’t need to be a rocket scientist, or even a social scientist, to know that dissent does not boost careers. This is especially true during times of war. The rewards of going along to get along are clear; so are the hazards of failing to toe the line. p. 22

Loading...