Bloomberg has the largest editorial staff of any of the major news services, but its growth has not diluted the quality. Take a look at Caroline Baum's missive on turning the tables on two of the leading idiots in DC: Barney Frank and Maxine Waters. She notes how our congressmen make a living out of "finger-pointing and grand-standing for the folks back home."
Her wistful fantasy about grilling Frank and Waters serves as the script for a responsible media:
Chairman Frank, on July 14, 2008, you made the following pronouncements about Fannie Mae and Freddie Mac, the two huge government-sponsored enterprises that are the key players in mortgage finance:There is more, urge you to review it at your leisure. Then call or write your local media representative. Ask them why they haven't put these questions to your elected officials."Fannie and Freddie are fundamentally sound."You followed that analysis with a forecast. Referring to legislation before your committee to allow the Treasury to lend to and buy unlimited shares in the GSEs, you said: “We’re doing three separate things that make it much less likely -- very, very unlikely -- that we’ll have this kind of a housing crisis six months or a year from now.”
"They are not in danger of going under."
"Looking at the financials, they’re solid."
Less than two months later, Fannie and Freddie were wards of the state.
Just answer the questions, Mr. Chairman.
BTW, if anyone wants to see the CSPAN coverage of waters and frank uttering those words (or want to use it to ram the words down the throat of terminal doubters):THIS VIDEO has it.
In the event that link has been disconnected (it somehow manages to "run afoul" of youtube's "policies" -- apparently there's a Youtube policy against convicting Democrats with their own words...), do a search on Youtube using the phrase "democrat coverup fannie freddie" -- it should be the first video that pops up for that.
They keep posting it, and Youtube's lefties keep killing it...
(via OBloodyHell in comments here.)