Sunday, October 12, 2008

McClatchy 100% in Tank For Obama

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The McClatchy news organization brings us this unabashedly biased piece explaining that it was not the government-backed Fannie and Freddie that led us to our current crisis but private firms and in fact, capitalism and greed. A taste:

As the economy worsens and Election Day approaches, a conservative campaign that blames the global financial crisis on a government push to make housing more affordable to lower-class Americans has taken off on talk radio and e-mail.

Commentators say that's what triggered the stock market meltdown and the freeze on credit. They've specifically targeted the mortgage finance giants Fannie Mae and Freddie Mac, which the federal government seized on Sept. 6, contending that lending to poor and minority Americans caused Fannie's and Freddie's financial problems.

Federal housing data reveal that the charges aren't true, and that the private sector, not the government or government-backed companies, was behind the soaring subprime lending at the core of the crisis.
It goes on in unconvincing fashion for paragraph after paragraph. But wait, here's the real bias:

"I don't remember a clarion call that said Fannie and Freddie are a disaster. Loaning to minorities and risky folks is a disaster," said Neil Cavuto of Fox News.
Well Neil, what about this:

Sen. John McCain's 2006 demand for regulatory action on Fannie Mae and Freddie Mac could have prevented current financial crisis, as HUMAN EVENTS learned from the letter shown in full text below.

McCain's letter -- signed by nineteen other senators -- said that it was "...vitally important that Congress take the necessary steps to ensure that [Fannie Mae and Freddie Mac]...operate in a safe and sound manner.[and]..More importantly, Congress must ensure that the American taxpayer is protected in the event that either...should fail."
In other words, McCain did issue a clarion call along with others in the GOP and it was not heeded. Just because it was a commentator on FOX that made the statement, McClatchy felt it showed we are hypocrites, liars or worse.

Along these same lines, ACORN is in the midst of being exposed as the Democratic shill they've always been.

1 comment:

Anonymous said...

An article with facts indicates they are in the tank?