Incredibly Rich People Need More Money

Dean Baker writes about taxpayer dollars bailing out big financial institutions in Beat The Press and how the media is ignoring the story.

Can’t the media find any economists who don’t think that handing hundreds of billions of taxpayer dollars to the big banks and the incredibly rich people who own and manage them is a good idea? Apparently not, given the coverage so far to the Fed’s proposal to lend $200 billion to the banks using mortgage backed securities as collateral.