AOW 01/09: TARP Monolouge

This week's visual comes from a Daily Show with Jon Stewart, a satirical news show, segment that discussed the bank bailouts in 2008 and TARP (Troubled Asset Relief Program). He discusses how recent news of another bailout program had surfaced and how it compared to TARP. Stewart shows clips from Bloomberg News who help explain what happened in 2008. This helps Stewart establish credibility by using sources who gave raw numbers to support his position. His purpose is to show how the banks and the government made these bailouts a large scandal and that the government lost money and the banks made a large profit. He made this piece to people who did not fully understand TARP and to those who want to know more about the bank bailouts and the Wall Street collapse in 2008. He uses logos to explain how the banks made a large profit as a result of the federal bailouts. Near the end of the segment, he explains step by step how the secret bailout program was done and the audacity from the entire situation. He uses pathos to in the segment's title and his feelings towards the government in this situation. He explains how the bank withheld information of this secret program with the Federal Reserve while Congress was constructing bailout programs such as TARP and the Dodd- Frank Wall Street Reform. He also shows through his emotions and actions how outraged he is with the secret program. This secret program gave $7.7 trillion to the banks at 0.01% and then borrowed it back in 3% treasury notes, then the banks gave bonuses to their employees who were "OK" with the situation. Stewart uses the warrent of how people are supposed to make a profit and said the government failed completely and this whole situation epitomizes the entire financial crisis. Stewart is successful in achieving his purpose because of his use of emotions in simplifying the banks bailouts.