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“For ages, I’ve dreamed of a United States where Project Censored isn’t necessary, where these crucial stories and defining issues are on the front page of the New York Times, the cover of Time, and in heavy rotation on CNN. That world still doesn’t exist, but we always have Project Censored’s yearly book to pull together the most important things the corporate media ignored, missed, or botched.” –Russ Kick, author of You Are Being Lied To, Everything You Know Is Wrong, and the New York Times bestselling series The Graphic Canon.
“The staff of Project Censored presents their annual compilation of the previous year’s 25 stories most overlooked by the mainstream media along with essays about censorship and its consequences. The stories include an 813% rise in hate and anti-government groups since 2008, human rights violations by the US Border Patrol, and Israeli doctors injecting Ethiopian immigrants with birth control without their consent. Other stories focus on the environment, like the effects of fracking and Monsantos GMO seeds. The writers point out misinformation and outright deception in the media, including CNN relegating factual accounts to the “opinion” section and the whitewashing of Margaret Thatcher’s career following her death in 2013, unlike Hugo Chavez, who was routinely disparaged in the coverage following his death. One essay deals with the proliferation of “Junk Food News,” in which “CNN and Fox News devoted more time to ‘Gangnam Style’ than the renewal of Uganda’s ‘Kill the Gays’ law.” Another explains common media manipulation tactics and outlines practices to becoming a more engaged, free-thinking news consumer or even citizen journalist. Rob Williams remarks on Hollywood’s “deep and abiding role as a popular propaganda provider” via Argo and Zero Dark Thirty. An expose on working conditions in Chinese Apple factories is brutal yet essential reading. This book is evident of Project Censored’s profoundly important work in educating readers on current events and the skills needed to be a critical thinker.” -Publisher’s Weekly said about Censored 2014 (Oct.)
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“In another home run for Project Censored, Censored 2013 shows how the American public has been bamboozled, snookered, and dumbed down by the corporate media. It is chock-full of ‘ah-ha’ moments where we understand just how we’ve been fleeced by banksters, stripped of our civil liberties, and blindly led down a path of never-ending war.” –Medea Benjamin, author of Drone Warfare, cofounder of Global Exchange and CODEPINK.
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“Most journalists in the United States believe the press here is free. That grand illusion only helps obscure the fact that, by and large, the US corporate press does not report what’s really going on, while tuning out, or laughing off, all those who try to do just that. Americans–now more than ever–need those outlets that do labor to report some truth. Project Censored is not just among the bravest, smartest, and most rigorous of those outlets, but the only one that’s wholly focused on those stories that the corporate press ignores, downplays, and/or distorts. This latest book is therefore a must read for anyone who cares about this country, its tottering economy, and–most important– what’s now left of its democracy.” –Mark Crispin Miller, author, professor of media ecology, New York University.
“At a time when the need for independent journalism and for media outlets unaffiliated with and untainted by the government and corporate sponsors is greater than ever, Project Censored has created a context for reporting the complete truths in all matters that matter. . . . It is therefore left to us to find sources for information we can trust. . . . It is in this task that we are fortunate to have an ally like Project Cen-sored.” —Dahr Jamail
“Project Censored is one of the organizations that we should listen to, to be assured that our newspapers and our broadcasting outlets are practicing thorough and ethical journalism.” —Walter Cronkite
“Project Censored interrogates the present in the same way that Oliver Stone and I tried to interrogate the past in our Untold History of the United States. It not only shines a penetrating light on the American Empire and all its deadly, destructive, and deceitful actions, it does so at a time when the Obama administration is mounting a fierce effort to silence truth-tellers and whistleblowers. Project Censored provides the kind of fearless and honest journalism we so desperately need in these dangerous times.” —Peter Kuznick, professor of history, American University, and coauthor, with Oliver Stone, of The Untold History of the United States
“Project Censored brings to light some of the most important stories of the year that you never saw or heard about. This is your chance to find out what got buried.” –Diane Ravitch, author of The Death and Life of the Great American School System.
“Project Censored shines a spotlight on news that an informed public must have . . . a vital contribution to our democratic process.” —Rhoda H. Karpatkin, president, Consumer’s Union
Buy it, read it, act on it. Our future depends on the knowledge this col-lection of suppressed stories allows us.” —San Diego Review
“Project Censored continues to be an invaluable resource in exposing and highlighting shocking stories that are routinely minimized or ignored by the corporate media. The vital nature of this work is underscored by this year’s NSA leaks. The world needs more brave whistle blowers and independent journalists in the service of reclaiming democracy and challenging the abuse of power. Project Censored stands out for its commitment to such work.” —Deepa Kumar, author of Islamophobia and the Politics of Empire and associate professor of Media Studies and Middle Eastern Studies at Rutgers University
“Censored 2014 is a clarion call for truth telling. Not only does this volume highlight fearless speech in fateful times, it connect the dots between the key issues we face, lauds our whistleblowers and amplifies their voices, and shines light in the dark places of our government that most need exposure.” –Daniel Ellsberg, The Pentagon Papers
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“[Censored] offers devastating evidence of the dumbing-down of main-stream news in America. . . . Required reading for broadcasters, journalists, and well-informed citizens.” —Los Angeles Times


The cornerstone of George Bush’s 1988 presidential campaign was “Read my lips; no new taxes.” The truth about the scope of the savings and loan scandal would have revealed the hypocrisy of that statement and threatened Bush’s candidacy.

Now, as a result of a major investigation by the Center for Investigative Reporting and PBS Frontline, we have learned that the taxpayers could have been saved at least $250 billion if there hadn’t been-a political cover-up.

In the late summer of 1988, Federal Home Loan (FHL) Bank Board member Roger Martin had a lunch meeting in the private office of William Seidman, then head of the FDIC. Elise Paylan, Roger Martin’s executive assistant, also was at the meeting, and reported the following:

“During the meeting with Bill Seidman, they were discussing the size of the hole, and Roger had — this was at, sort of the height of his frustration. He was saying he didn’t understand why Chairman Wall (Danny Wall, chairman of the FHL Bank Board) was not forth-coming about the true size of the problem. And Roger felt sure then Chairman Wall knew about this and was just ignoring it. And Chairman Seidman said, Well. I know why he’s not doing that’ and Roger said ‘Why?’ And Seidman said Well it’s because George Gould told him to lie about the numbers.’ Now to be honest, I don’t know if lie is the exact word he used, but lie, misstate, something along that line — and Roger was quite stunned by that. … and when Roger said, ‘Oh, is that true?, What makes you say that?,’ Chairman Seidman said ‘because he told me to do the same thing’.”

 When Martin was asked if Ms. Paylan’s account of Seidman’s comments was accurate he replied “That’s exactly what he said.” Seidman later said he didn’t remember any conversation like that.

(George Gould was the Deputy Under-Secretary for Finance, working under Treasury Secretary Jim Baker, and the Administration’s political point man on the S&L crisis.)

Jim Barth, Danny Wall’s chief economist at the Bank Board, was asked how much money could have been saved if the S&L problem had been addressed honestly and frankly before the 1988 election, with all the S&Ls shut down and the issue tidied up. Barth said $250 billion.

Instead, the total cost of the S&L scandal is now expected to skyrocket to more than $700 billion. As William Seidman acknowledged ‘Well, this is the mother of all government mistakes. It is absolutely the largest single mistake that you can identify the government has ever made in terms of financial costs. It is colossal…”.

Meanwhile George Bush was elected the 41st President of the United States on November 8th, 1988.


SOURCES: CENTER FOR INVESTIGATIVE REPORTING (CIR) 530 Howard Street, 2nd Floor, San Francisco, CA 94105, FRONTLINE PBS-TV, DATE: 10/22/91

TITLE: ‘The Great American Bailout”

AUTHORS: (A co-production of the Center for Investigative Reporting and FRONTLINE.) Glenn Silber, producer/director; George Clyde, coordinating producer; Robert Krulwich, corres­pondent; Wendy Wank, editor; associate producers were Diana Hembree (Texas), Juan A. Avila Hernandez (Texas), and William Kistner (Washington, DC); Dan Noyes, project director; Sharon Tiller, executive producer for CIR; David Fanning, executive producer for FRONTLINE.

COMMENTS: Sharon Tiller, executive producer for CIR, provided the following comments. First, the press failed to cover the issue during the critical 1988 election year; not a single question about the S&L crisis was asked during the three national political debates in 1988. “The major media also failed to follow up on why the costs of the bailout kept escalating and whether politics had played a part in the 1988 executive actions on the bailout.”

‘The horrendous increase in the cost of the S&L bailout will cost every citizen in the U.S. thousands of dollars and will substantially weaken the U.S. economy for decades to come. Because incumbent politicians in the executive branch and on both sides of the Congressional aisle have found no political advantage in addressing the bailout issue, rectifying the bailout is dependent upon public understanding and pressure. The general public needs to be aware of how the political system has failed to resolve the bailout, partially because both political parties were so compromised by the savings and loan issue. The voting public needs to understand this complex issue so they can vote and ask questions on it intelligently in the 1992 elections, and avoid another cover-up.

“Originally, CIR approached the Wall Street Journal to do a companion story on the bailout documentary, which they initially agreed to do. They eventually declined to run the report because they couldn’t devote the time and resources necessary to advance the story.” Nonetheless, The Great American Bailout’ aired to great reviews but little press coverage. Attempts to do follow-up spin-off print stories in Rolling Stone, Parade, and the Wall Street Journal all failed from lack of interest or the publication’s failure to advance the story. CIR was “able to publish one related story in the Sacramento Bee and the American Banker and several papers picked up the allegations of a political cover-up in 1988. No other media outlet has made a major effort to advance the story about what happened in 1988, to our knowledge.”

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