The NY Times had an interesting article about what one calls the $700 billion plan to help financial firms. The White House likes to call it a "rescue plan"--"Financial Rescue Legislation"--while the media has taken a liking to "bailout." (Mayor Bloomberg is also anti-"bailout the term".) But CNBC economics reporter Steve Liesman explained why bailout works, “You rescue the unwitting victims of a boat accident. You bail out an experienced captain who sailed knowingly into a storm. There are no innocent victims here except the American taxpayer. Wall Street, which should have known better, is getting bailed out.” But who knows—if this were presented as a "rescue" plan, maybe it would have gone over better with taxpayers...and the House of Representatives.
Why Media Uses "Bailout," Not "Rescue Plan"
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"It puts more of a burden on New York — puts more of a burden on 49 other states."
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