Fop Network Loves Attack Politics

iVillage Member
Registered: 08-20-2008
Fop Network Loves Attack Politics
58
Thu, 10-16-2008 - 11:09pm

"It's FOX "News" Channel vs. The Middle Class
by Jed L

Thu Oct 16, 2008 at 10:03:56 PM EDT

Now that FNC has reinvented itself as the "24-hour ACORN and Ayers" network, it's more obvious than ever that they don't give a damn about the pocketbook issues facing middle-class Americans.

Based on a search of closed caption data gathered since Sunday, FNC has has mentioned the GOP's favorite issues (ACORN and Ayers) nearly thirty percent more frequently than they mentioned the GOP's least favorite issues, the economy and the middle class.

The numbers are staggering:

Combined, FNC has mentioned "ACORN" or "Ayers" 1,231 times
Compare that to 963 references to "economy" or "middle class"
FNC's propaganda puts it out way out on a limb. Combined, MSNBC and CNN have made 798 references to ACORN or Ayers. Remember, that's both networks, combined.

Put another way, FNC has mentioned ACORN or Ayers 50% more often than both of its competitors put together."

http://www.dailykos.com/storyonly/2008/10/16/185021/72/626/632959

I have a question. Why does Fox insist on keeping its idiotic "Fair and Balanced" tag line? Is it like getting a trademark - you need to call something it's not to get a trademark. You can't get a trademark on the word car for a type of car, but you sure as heck can get one (if it's still available) on the name "car" as a brand name for a line of cabinets.

iVillage Member
Registered: 10-14-2008
Sat, 10-18-2008 - 5:18pm
Sigh....

Pop quiz time, sparky:

  1. What percentage of subprime loans were made by private banks (instead of by Fannie and Freddie)? Was it:
    A) _____ 36%

    B) _____ 41%

    C) _____ 59%

    D) _____ 84%

  2. What types of lending institutions are subject to the provisions of the Community Reinvestment Act (CRA, the Carter-era law which the right wing is currently trying to affix most of the blame for the current meltdown upon)? I know it's fun for some GoOPers to pretend that the reason the financial system is collapsing is because of dirty, low-income brown people, but....well, let's just answer that question, shall we? Is it (check all that apply):
    A) _____ Investment banks

    B) _____ Commercial banks

    C) _____ Non-bank mortgage lenders (Ameriquest, etc.)

    D) _____ None of the above?

  3. How many of the top 25 subprime lenders were even subject to the requirements of the CRA (Community Reinvestment Act of 1977, Was it:
    A) _____ none

    B) _____ two

    C) _____ twelve

    D) _____ seventeen

  4. From 2004 through 2006 (the height of the subprime lending feeding-frenzy what change occurred in Fannie and Freddie's percentage share of the subprime loans which were sold to secondary derivative markets? Was it:
    A) _____ increased from 15% to 71%

    B) _____ increased from 27% to 41%

    C) _____ decreased from 88% to 65%

    D) _____ decreased from 48% to 24%


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Oookay...Answers: 1: D - fully 84% of subprime loans were private lenders, who drove this market forward, aggressively, not Fannie or Freddie. 2: B - The entire point of Gramm-Leach-Bliley was to re-define what banks could and could not do (and therefore, which banks (and portions of banks)) would be subject to CRA. 3: B - Of the list of top 25 subprime lenders, only two were even subject to CRA's provisions - Washington Mutual and Wells Fargo, since they were the only traditional commercial banks or thrifts. The rest? Not so much. 4: D - Due to the additional restrictions put upon Fannie and Freddie because of their involvement with the government, they were not able to be competitive with their private-sector competitors, who far outstripped them in the aggressive invention, marketing and acquisition of these loans and their derivative investment packages.

I think that's about enough for now. In sum, during the worst of the subprime idiocy, the right-wing's two main bugaboos/scapegoats for the mess - Fannie/Freddie and the CRA law - actually saw their market share and influence DECREASE. Fannie and Freddie went from owning nearly half of the secondary mortgage market share of subprimes to less than a quarter of them in the space of two years, and only TWO of the top 25 American subprime lenders were even SUBJECT to the regulations of the CRA. Not, probably, the outcome you were hoping for....but nevertheless, the one which actually occurred.

Sorry.

iVillage Member
Registered: 07-25-2006
Sat, 10-18-2008 - 5:18pm

Your argument is passionate, as always, but I don't see anything factual to back it up.


iVillage Member
Registered: 10-14-2008
Sat, 10-18-2008 - 5:44pm
who's sparky?
iVillage Member
Registered: 10-14-2008
Sat, 10-18-2008 - 6:19pm

Dunno.

So....how'd you score on the quiz?

iVillage Member
Registered: 10-14-2008
Sat, 10-18-2008 - 6:29pm
There was a quiz? How you do?
iVillage Member
Registered: 10-08-2008
Sat, 10-18-2008 - 6:43pm

Sounds to me like there are a lot of very intelligent people reporting in the media.

iVillage Member
Registered: 08-20-2008
Sat, 10-18-2008 - 8:46pm

"I hope you'll do some real research with open eyes and see who it is that you're supporting."

Likewise. You are tossing out a lot of statements with no logical connection between them. The private sector investment banks, not Fannie and Freddie, I hate to break it to you, were the ones that issued the vast majority of the sub-prime debt that blew up and precipitated this crisis.

And how did the private sector banks get away with it? The Republican deregulators, including the SEC, let them lever up to unprecedented levels.

In fact, the Republicans were hands off when it came to our whole financial system. Starting with Phil Gramm, they did their best to tear down all the controls the Democrats put in place to prevent another Great Depression. And what a coincidence. Look where we are. In the middle of the worst economic crisis since the Great Depression.

It's that simple.

You don't need to cut and paste pages and pages of random facts and right-wing blogs to find the truth. We just need to think.

I stand by what I said. We could use your energy. We are not marxist, just as you are not fascist. We are Americans friend.

Think about accountability. That is a value that Democrats and Republicans traditionally have shared. Bring some back to the Republicans. Hold them accountable. Be brave friend. We could use you. Think about it.

iVillage Member
Registered: 05-27-2008
Sat, 10-18-2008 - 8:58pm

Maybe the liberal media, that are in the tank for Obama, are avoiding the Ayres and ACORN issues because they know it hurts their candidate.

>> More likely they are not covering the material because it is not an issue.

iVillage Member
Registered: 10-14-2008
Sat, 10-18-2008 - 11:46pm

>>> "I hope you'll do some real research with open eyes and see who it is that you're supporting."

Likewise.

I've done quite a bit of research on McCain. If you know of something that would make me question his qualifications to be President, like the many, many things I mentioned about Obama, feel free to share.

>>> You are tossing out a lot of statements with no logical connection between them. The private sector investment banks, not Fannie and Freddie, I hate to break it to you, were the ones that issued the vast majority of the sub-prime debt that blew up and precipitated this crisis.

Sorry you missed the connection...it's pretty clear if you do a little reading. Fannie and Freddie were the ones who guaranteed the loans, because the government gave the "impression" that it would back Fannie and Freddie. Along with the CRA, this was the heart of the crisis...and both were the progeny of the Democrats.

>>> And how did the private sector banks get away with it? The Republican deregulators, including the SEC, let them lever up to unprecedented levels.

Sorry, but no again...the banks were pushed into sub-primes by the CRA. Fannie and Freddie backed the loans and the Dems protected it all against regulation.

>>> In fact, the Republicans were hands off when it came to our whole financial system. Starting with Phil Gramm, they did their best to tear down all the controls the Democrats put in place to prevent another Great Depression. And what a coincidence. Look where we are. In the middle of the worst economic crisis since the Great Depression.

And wrong yet again. The Dems originally opposed Gramm's deregulation, but once they made sure that their sub=prime programs were protected, they jumped on board and Clinton signed it into law. I know it's upsetting for you, but them's the facts.

>>> It's that simple.

It would be if you had the facts...or bothered to read the facts I provided in the previous post. This constant denial and acceptance of lies and propaganda are what get in the way of any kind of meaningful discussion.

>>> You don't need to cut and paste pages and pages of random facts and right-wing blogs to find the truth. We just need to think.

The facts are anything but random. The show a contiguous history, from the Community Reinvestment Act through the current economic crisis. Granted, some fault lies with the Republicans, but the original policy was devised by the Democrats...and it was the Democrats who defended, and profited from, their program against REPUBLICAN attempts at REGULATION.

>>> I stand by what I said.

You've only repeated Dem lies and propaganda. Uttely stunning in the face of the facts that have been presented.

>>> We could use your energy. We are not marxist, just as you are not fascist. We are Americans friend.

I didn't say that YOU were a Marxist...I said that Obama's policies are Marxist...and they are, by definition. Again, deny it if you wish, but the facts remain the same.

<<< Think about accountability. That is a value that Democrats and Republicans traditionally have shared. Bring some back to the Republicans. Hold them accountable. Be brave friend. We could use you. Think about it.

You'd have to make specific charges and present specific facts in order to hold someone accountable. I've presented many such facts and made many such charges against the Democrats and Obama specifically. You've offered your opinion.

iVillage Member
Registered: 10-14-2008
Sat, 10-18-2008 - 11:48pm

>>> More likely they are not covering the material because it is not an issue.

Apparently there are a LOT of people who disagree with you...so much so that Obama is afraid of the issue.