Monday, October 20, 2008
I am presuming that the lights will be staying off, as there is little indication there is anyone present honest enough to turn them on:
...This housing crisis didn't come out of nowhere. It was not a vague emanation of the evil Bush administration.
It was a direct result of the political decision, back in the late 1990s, to loosen the rules of lending so that home loans would be more accessible to poor people. Fannie Mae and Freddie Mac were authorized to approve risky loans.
What is a risky loan? It's a loan that the recipient is likely not to be able to repay.
The goal of this rule change was to help the poor -- which especially would help members of minority groups. But how does it help these people to give them a loan that they can't repay? They get into a house, yes, but when they can't make the payments, they lose the house -- along with their credit rating.
They end up worse off than before.
This was completely foreseeable and in fact many people did foresee it. One political party, in Congress and in the executive branch, tried repeatedly to tighten up the rules. The other party blocked every such attempt and tried to loosen them...
...Your job, as journalists, is to tell the truth. That's what you claim you do, when you accept people's money to buy or subscribe to your paper.
But right now, you are consenting to or actively promoting a big fat lie --- that the housing crisis should somehow be blamed on Bush, McCain, and the Republicans. You have trained the American people to blame everything bad -- even bad weather -- on Bush, and they are responding as you have taught them to.
If you had any personal honor, each reporter and editor would be insisting on telling the truth -- even if it hurts the election chances of your favorite candidate.
Because that's what honorable people do...
More:
h/t to Seva for sending along links to these videos on the crisis: Democrats in their own words Covering up the Fannie Mae, Freddie Mac Scam that caused our Economic Crisis
Clinton administration's "BANK AFFIRMATIVE ACTION"
Follow some of the related videos at Youtube for more.
Listed below are links to blogs that reference this entry: Orson Scott Card: Would the Last Honest Reporter Please Turn On the Lights? Plus: More Videos on the Econ Crisis.
TrackBack URL for this entry: http://www.solomonia.com/cgi-bin/mt4/mt-renamedtb.cgi/15616
A new posting at Breath of the Beast indicates that there may yet be a journalist of two ready to keep the lights burning: Breath of the Beast #6- Asking the Right Questions I felt the breath of the beast... Read More
Mr. Card put forth an outstanding article to all Americans. He tells it like we want to hear it, regardless of politics or party. Give the people the facts, and let us decide what we want to accept.
Mr. Card also turns the lights on to the ideals of what our founders wanted, truth, honor and integrity.
As for today's America, by a reporter presenting selective information, it only reflects back on his, and his organizartions lack of crediblity. How very sad.