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“Tracking The Truth, Because the Mainstream Media Won’t”

Would the Last Honest Reporter Please Turn On the Lights?

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Hello folks, the following article is very long.  So instead of posting the article in its entirety.  I’ll post a couple of paragraphs and then you can follow the link over.

This is a must read, and after the election this will be a piece that ALL MSM “journalists” will be asking what happened and why are our numbers diving.  Well they will have to go no farther than this article to see how their Biased views and ambitions hurt them in the end.

Would the Last Honest Reporter Please Turn On the Lights?
By Orson Scott Card

Editor’s note: Orson Scott Card is a Democrat and a newspaper columnist, and in this opinion piece he takes on both while lamenting the current state of journalism.

An open letter to the local daily paper — almost every local daily paper in America:

I remember reading All the President’s Men and thinking: That’s journalism.  You do what it takes to get the truth and you lay it before the public, because the public has a right to know.

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.

Furthermore, Freddie Mac and Fannie Mae were making political contributions to the very members of Congress who were allowing them to make irresponsible loans.  (Though why quasi-federal agencies were allowed to do so baffles me.  It’s as if the Pentagon were allowed to contribute to the political campaigns of Congressmen who support increasing their budget.)

Read the rest of Mr. Card’s article here @ Meridian Magazine

God Bless,
The Truth Tracker
Jason R. Bootie
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Written by truthtracker

October 22, 2008 at 4:44 PM

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