Legal Commentary

Beltway Media: Fortune 500 Equals "Main Street"

By Big Tent Democrat

The Washington Post Online has the most incredible headline I have seen in some time - NOTE - WaPo changed the headline (I take full credit for the change):

Fed Moves To Assist Main Street Businesses

Central bank will buy up commercial paper, the short-term debt that large companies across the country use to fund their day-to-day operations.

(Emphasis supplied.) That's helping Main Street? Only in the Beltway cocktail party set could that possibly be the headline for handouts to Fortune 500 companies. And you can't blame the headline writer. Here is the first graf of the story:

The Federal Reserve said today it is establishing a special fund to lend money directly to businesses so they have adequate cash to operate, a major move by the central bank to ensure that "main street" companies are not crippled by the financial crisis gripping Wall Street and other money centers around the world.

(Emphasis supplied.) A handout to corporate America is the Republican idea of helping "Main Street." And apparently also the Beltway Media view of helping Main Street. Is this really their view? Or are they just taking steno from the Fed?

By Big Tent Democrat, speaking for me only

Full post as published by TalkLeft on October 07, 2008 (boomark / email).