The April 20 explosion that started oil gushing into the Gulf of Mexico has prompted a slew of claims and counterclaims about the disaster. What caused it, how it’s being handled, the history of drilling accidents in the area – all are subjects ripe for false or misleading statements by politicians and others. …
This campaign season, “bailout” is a dirty — and often misused — word. It’s no longer being used just in reference to Wall Street banks and the rescue of the financial industry. Candidates, corporations and special interest groups increasingly use “bailout” even when no government financial assistance is being proposed. …
Q: Did General Motors repay its TARP loan from the Treasury with other TARP money?
A: Yes. GM repaid the loan portion of the automaker bailout ahead of schedule, with interest. It used TARP money it had already received but hadn’t spent. And taxpayers are still stuck with GM stock that isn’t worth what was paid for it.
A new attack ad targeting three Democratic senators and one Republican criticizes "hidden taxes on … pensions and retirement accounts" in the financial regulation legislation being considered by Congress, and […]
Does the financial regulatory bill put an end to taxpayer-funded bailouts? Or does it "institutionalize" them? Viewers of the Sunday political talk shows and recent C-SPAN clips from the Senate […]
A recent TV ad from Arkansas Lt. Governor Bill Halter claims that Democratic Sen. Blanche Lincoln "says she voted against bailing out Wall Street." That’s not what Lincoln said. The two […]
A third-party group, the Committee for Truth in Politics, is out with an ad blasting the House’s "Wall Street Reform and Consumer Protection Act." The group, which has no Web […]
Q: Did Congress bail out AIG because it insures members’ pensions?
A: This widely e-mailed claim is a hoax. It actually was the Federal Reserve that bailed out AIG, not Congress. And federal pensions aren’t insured by AIG or any other company.
Q: Would 3 million jobs be lost if U.S. automakers go under?
A: The 3-million-jobs figure is based on doomsday assumptions that are unlikely to materialize. Independent economists put the job loss in the hundreds of thousands if GM and Chrysler go under. Ford has said it can survive on its own for now.
Summary A new McCain-Palin ad says that "McCain and his congressional allies led" on the financial crisis while Obama was "mum." That's simply not true: Obama has in fact made […]