Repeat: The financial media does a poor job of commenting on financial matters, by scapegoating big business and Wall Street, repeating populist political comments.
Another example is the subject of repos. The elimination of repos sales off the books of defunct Lehman Brothers had relatively little to do with the use of bank guarantees by the government, or eliminating mark-to-market accounting, for all banks. The latter, and not repos, were the villains in the financial meltdown of 2008/2009.
In fact, every entity that has been in trouble in the past is tossed in the same basket by the media; AIG, Lehman Brothers, Merrill Lynch, Fannie Mae, Freddie Mac, Bear Stearns, and so on.
Each had its own peculiar problems and could have been rescued in its own way, probably without heavy-handed government assistance.
The media has done a poor job of sorting this out for the average citizen to understand.(See the Earl J. Weinreb NewsHole® comments and @BusinessNewshole tweets.)
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