MSNBC's Maddow: Did America Get Punked On the Bailout? Yes...Now Here's What to Do.

By David Sirota
December 17th, 2008 - 1:49pm ET

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I appeared on Rachel Maddow's MSNBC show last night to discuss my latest newspaper column about the bailout. You can watch the clip here. Rachel's first question really is the question of our time: Did we get punked? As progressive bailout critics have been saying since the current Wall Street bailout was first proposed, the answer is yes.

As the Minneapolis Federal Reserve reports, the major claims about a credit crisis that justified Congress cutting a trillion-dollar blank check to Wall Street were demonstrably false. And new data and reports show they remain demonstrably false.