>>Perhaps good old libel laws should be brushed up and revamped, so if you publish
banana story which gets debunked as lie, you could be liable for some big bucks. If that was the case, majority of them would go out of business in no time.

The US has a sentinel case making MSM immune from defamation for public interest stories about a public figure. So if a loon accuses Trump of having a Mexican love child he has abandoned which is the true reason he wants the wall, the NYT can publish and amplify that story without any effort to validate or act responsibly. If Trump complains, the NYT can then publish their snide letter saying there's nothing he can do except suck it up. Oh that's right- they already did do that. Trump reacts by saying (as you have) that MSM is abusing the privilege that therefore needs review; the NYT and its familiars then newspeak this into Trump trying to stifle free speech.