Each year the Business & Media Institute looks back on the year's news and selects the top 10 worst economic myths. Here is our 2009 list:
10. CBS, NY Times Support Ecuadorian Shakedown of U.S. oil company
9. Media Fail to Scrutinize Obama's Job Claims
8. Government Stimulus is the Answer to Our Economic Problems
7. No Tax Increases for the Middle Class
6. The Recession was Over ... by July.
5. Cash for Clunkers was a ‘Success'
4. Reagan vs. Obama on Jobs: Same Rate, Different Story
3. Health Care Reform will be ‘Deficit Neutral'
2. Tea Parties aren't made up of grassroots protestors; they're just ‘Astroturf.'
10. CBS, NY Times Support Ecuadorian Shakedown of U.S. oil company.
Media myth: Chevron is responsible for abandoned oil wells across Ecuador.
A South American country is trying to squeeze $27 billion out of Chevron for environmental cleanup from discarded oil wells - all with the help of the U.S. news media.
CBS "60 Minutes" and The New York Times took the side of "eco-radicals" at the Amazon Defense Coalition who have filed suit against Chevron, even though the government of Ecuador signed off on the company's cleanup actions more than 10 years ago.