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The Right Wing Media's Lie Machine

In a video posted on YouTube on February 3, House Representative Barney Frank (D-Massachusetts) explains how the right wing media machine creates and spreads disinformation in an effort to smear the left. "Disinformation" should not be confused with "misinformation," the unintentional form of wrong information. Disinformation is produced by people who intend to mislead their audience.

Step 1: Fabricate the Lie

Frank tells how John Fund, an editorial writer for the Wall Street Journal, told a lie about him in November of last year: In a speech at a conservative function in Florida called "Restoration Weekend," Fund claimed that, after losing the special election in Massachusetts, Democrats Chuck Schumer and Barney Frank were going to propose a bill to create universal voter registration. Fund further stated that Democrats were going to add all welfare recipients and unemployed people to the voter rolls, and he called it "felon re-enfranchisement." In reality, Frank explains, there was no such bill.

Groundhogs Day on Wall Street

On the day that Punxsutawney Phil emerged to predict a long hard winter, Americans picked up the newspaper to read that AIG, the bankrupt insurance giant, was going to pay out $100 million in bonuses to its failed financial products division. Kenneth Feinberg, President Obama’s pay czar, announced that these were “grandfathered” retention payments and that the unit had taken a $20 million dollar reduction in bonuses.

Like Bill Murray in the classic film Groundhog Day, we are being forced to live this day over again.

Golden Throne Award Goes to Tim Ryan, Spinmeister for U.S. Securities Industry

T. Timothy Ryan, Jr.The Center for Media and Democracy and BanksterUSA are pleased to present our Golden Throne Award to T. Timothy Ryan Jr., President and Chief Executive Officer of the Securities Industries and Financial Markets Association (SIFMA). SIFMA is the leading behind-the-scenes lobby group representing big banks and investment firms, as well as broker-dealers and other peddlers of financial instruments, which Warren Buffett labeled "weapons of mass destruction." SIFMA lobbies Congress and financial regulators, and handles securities-related press for some of the biggest players in the financial crisis--Goldman Sachs, Bank of America, AIG, Merrill Lynch, Citigroup, and Fidelity Investments.

The Yes Men Punk Davos Man

Davos is a small resort town in Switzerland best known for hosting the World Economic Forum (WEF), an annual meeting of global political and business elites. Every year the biggest boosters of the "neoliberal" economic policy agenda of deregulation, unfettered global trade and strict International Monetary Fund (IMF) rules for poor countries, convene at Davos to pat each other on the back.

Now that these policies have almost brought the world to ruin, one would expect these global titans to be self-reflective and perhaps even apologetic. Mostly they were absent.

Outlook Rosy for Nuclear Industry, Despite Unsolved Problems of Waste and Safety

Nuclear power plant with smileThe Obama administration is considering granting as much as $18.5 billion in loan guarantees to the nuclear industry to build new reactors, and Congress is considering adding billions more to expand nuclear power in the U.S., even though the problems of safety and what to do with nuclear waste remain unsolved.

The positive outlook for the industry comes after an intense decade of lobbying, in which the nuclear industry and its allies, in aggregate, have spent over $600 million on lobbying and almost $63 million on campaign contributions, according to the Investigative Reporting Workshop at American University.

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