"Banks Win Concessions" re 'Stress Tests' -
Note TIME magazine's clever headline, which story confirms the suspicions posted in our previous post:
Stress Tested: Has Geithner's Bank Confidence Game Worked?A "Confidence Game" of course being an allusion to a "CON GAME," wherein a "confidence man" like BERNIE MADOFF cons victims into handing over their cash, to never see it again....
By Massimo Calabresi
TIME, Washington DC, Friday, May. 08, 2009
However, we must note that, in typical NY/DC "major media" Neo-Con fashion, TIME itself is party to the massive "BAILOUTS" cover-ups, whitewashes, & misinformation:
Right there in the first paragraph, TIME declares that "Tim Geithner's biggest challenge has been restoring confidence in America's fragile banks without taking the politically costly step of asking Congress for more money."
Now A NORMAL person might think, "IF MASSIVELY FRAUDULENT ACCOUNTING, OVER-VALUING of 'assets,' and hiding BILLIONS of dollars in LOSSES, OFF the books" were the ROOT of this economic crisis, then perhaps CORRECTING those FRAUDS and SECRETIVE accounting failures, might be MORE important - a "BIGGER CHALLENGE" - than trying to restore economic "confidence" on a foundation of financial quicksand.
But the Neo-Con ("neo-conservative," as in radical, reactionary, right-wing big-business establishment authoritarians, who MASQUERADE as "moderate" or even "liberal" middle-of-the-road populists) TIME editors, like their Neo-Con lying cohorts at the NEW YORK TIMES and WASHINGTON POST, LOVE handing TRILLIONS of TAXPAYER "bailout" dollars directly to the corporate kleptocrats of New York & Wall Street, (via their bought-and-paid for US congress-critters in DC), which is how TIME can assert that Geithner is RUNNING "A CONFIDENCE GAME" in the headline, while simultaneously PROPPING UP that "CON-GAME" racket in the very next (first) paragraph!
TIME, in a TEXT-BOOK example of neo-con "reporting," writes:
< From his earliest days as Treasury Secretary, Tim Geithner's biggest challenge has been restoring confidence in America's fragile banks without taking the politically costly step of asking Congress for more money. To judge by the results of the government-run stress tests released Thursday afternoon, Geithner has somehow pulled it off — at least for now. >
TIME could, for example, deign to INVESTIGATE "JUST HOW MANY BILLIONS HAS IT BEEN?" that the US Congress has DISHED OVER to the Wall Street moguls via Geithner, the Fed, and the US congress-critters; but THAT would be REAL reporting & journalism... something the Neo-Cons SCORN and DESPISE.