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Fair & Balanced…

By Brian | December 22, 2008 | Share on Facebook

The other day, I slammed the New York Times for running a “Wall Street is Evil” article on the front page.

Yesterday, in the Sunday paper, there was a longer article that went into more detail about the financial crisis. It’s still laced with political invective, but it does a much better job of presenting the history of what happened than the one from last Thursday. Credit where credit is due (no pun intended).

What it shows is an administration suffering from the same things it’s suffered from throughout it’s eight years – a desire to do the right thing, coupled with an inability to waver from an initial decision, and an inability to control the message and/or inspire any confidence:

Mr. Bush did foresee the danger posed by Fannie Mae and Freddie Mac, the government-sponsored mortgage finance giants. The president spent years pushing a recalcitrant Congress to toughen regulation of the companies, but was unwilling to compromise when his former Treasury secretary wanted to cut a deal.As early as 2006, top advisers to Mr. Bush dismissed warnings from people inside and outside the White House that housing prices were inflated and that a foreclosure crisis was looming.

Topics: Money Talk, News and/or Media | No Comments »


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