Ben Affleck Is Weirdly Smart About The TARP

Who would have ever suspected that Ben Affleck would be in a position to provide intelligent commentary on the bailout of our financial firms and the mainstream media’s failures throughout the crisis?

Not us.

But here he is, talking to a columnist from Politico about the bailout:

“Newsweek, I feel like, is basically culpable for the first [$350 billion],” Affleck said. “They did like this hagiography on Paulson. Did you read that?”

He continued: “They did that and they made it very difficult—it was one of many factors that made it difficult for people to say, [inaud] hold on a second, what is the difference between now and a week from now? Why can’t we examine this more closely? Can we talk about this? Why is it that we can’t have more transparency in this piece of legislation?” 

“It’s the same kind of fear and demagoging that was used to authorise the Iraq War, was resurrected to authorise a piece of legislation which then squandered a lot of our tax dollars—tax dollars, in fact, that we don’t have,” he continued.

We’re not sure we would have singled out Newsweek in particular. To be honest, we’re not sure news weekly’s have all that much influence anymore. We certainly don’t remember what Newsweek may have written about Paulson. But he’s right about one thing: there were way too many journalists willing to ditch their scepticism to promote the administration’s banking bailout.


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