Thursday, October 23, 2008

Enlightened Thoughts from a Mormon Democrat: Preach On, Brother Card!

For those of you who are confused at my title, I understand. A Mormon Democrat is seen largely as a contradiction in terms, but there are more than you’d think. I happen not to be one of them, but some of my friends are. There’s even one in the Senate—the always lovable Brother Harry Reid of Nevada.

Orson Scott Card, a Democrat, writer, and Mormon recently wrote a fantastic bit of commentary about the current state of journalism in America and its overwhelmingly “forgiving” attitude of liberal politicians. Here’s the link. I tried for the life of me to excerpt it and I couldn't in good conscience leave anything out, so if you'd like to read it here, here goes:

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.)

Isn't there a story here? Doesn't journalism require that you who produce our daily paper tell the truth about who brought us to a position where the only way to keep confidence in our economy was a $700 billion bailout? Aren't you supposed to follow the money and see which politicians were benefiting personally from the deregulation of mortgage lending?

I have no doubt that if these facts had pointed to the Republican Party or to John McCain as the guilty parties, you would be treating it as a vast scandal. "Housing-gate," no doubt. Or "Fannie-gate."

Instead, it was Senator Christopher Dodd and Congressman Barney Frank, both Democrats, who denied that there were any problems, who refused Bush administration requests to set up a regulatory agency to watch over Fannie Mae and Freddie Mac, and who were still pushing for these agencies to go even further in promoting sub-prime mortgage loans almost up to the minute they failed.

As Thomas Sowell points out in a TownHall.com essay entitled "Do Facts Matter?" ( http://snipurl.com/457townhall_com] ): "Alan Greenspan warned them four years ago. So did the Chairman of the Council of Economic Advisers to the President. So did Bush's Secretary of the Treasury."

These are facts. This financial crisis was completely preventable. The party that blocked any attempt to prevent it was ... the Democratic Party. The party that tried to prevent it was ... the Republican Party.

Yet when Nancy Pelosi accused the Bush administration and Republican deregulation of causing the crisis, you in the press did not hold her to account for her lie. Instead, you criticized Republicans who took offense at this lie and refused to vote for the bailout!

What? It's not the liar, but the victims of the lie who are to blame?

Now let's follow the money ... right to the presidential candidate who is the number-two recipient of campaign contributions from Fannie Mae.

And after Freddie Raines, the CEO of Fannie Mae who made $90 million while running it into the ground, was fired for his incompetence, one presidential candidate's campaign actually consulted him for advice on housing.

If that presidential candidate had been John McCain, you would have called it a major scandal and we would be getting stories in your paper every day about how incompetent and corrupt he was.

But instead, that candidate was Barack Obama, and so you have buried this story, and when the McCain campaign dared to call Raines an "adviser" to the Obama campaign — because that campaign had sought his advice — you actually let Obama's people get away with accusing McCain of lying, merely because Raines wasn't listed as an official adviser to the Obama campaign.

You would never tolerate such weasely nit-picking from a Republican.

If you who produce our local daily paper actually had any principles, you would be pounding this story, because the prosperity of all Americans was put at risk by the foolish, short-sighted, politically selfish, and possibly corrupt actions of leading Democrats, including Obama.

If you who produce our local daily paper had any personal honor, you would find it unbearable to let the American people believe that somehow Republicans were to blame for this crisis.

There are precedents. Even though President Bush and his administration never said that Iraq sponsored or was linked to 9/11, you could not stand the fact that Americans had that misapprehension — so you pounded us with the fact that there was no such link. (Along the way, you created the false impression that Bush had lied to them and said that there was a connection.)

If you had any principles, then surely right now, when the American people are set to blame President Bush and John McCain for a crisis they tried to prevent, and are actually shifting to approve of Barack Obama because of a crisis he helped cause, you would be laboring at least as hard to correct that false impression.

Your job, as journalists, is to tell the truth. That's what you claim you do, when you accept people's money to buy or subscribe to your paper.

But right now, you are consenting to or actively promoting a big fat lie — that the housing crisis should somehow be blamed on Bush, McCain, and the Republicans. You have trained the American people to blame everything bad — even bad weather — on Bush, and they are responding as you have taught them to.

If you had any personal honor, each reporter and editor would be insisting on telling the truth — even if it hurts the election chances of your favorite candidate.

Because that's what honorable people do. Honest people tell the truth even when they don't like the probable consequences. That's what honesty means . That's how trust is earned.

Barack Obama is just another politician, and not a very wise one. He has revealed his ignorance and naivete time after time — and you have swept it under the rug, treated it as nothing.

Meanwhile, you have participated in the borking of Sarah Palin, reporting savage attacks on her for the pregnancy of her unmarried daughter — while you ignored the story of John Edwards's own adultery for many months.

So I ask you now: Do you have any standards at all? Do you even know what honesty means?

Is getting people to vote for Barack Obama so important that you will throw away everything that journalism is supposed to stand for?

You might want to remember the way the National Organization of Women threw away their integrity by supporting Bill Clinton despite his well-known pattern of sexual exploitation of powerless women. Who listens to NOW anymore? We know they stand for nothing; they have no principles.

That's where you are right now.

It's not too late. You know that if the situation were reversed, and the truth would damage McCain and help Obama, you would be moving heaven and earth to get the true story out there.

If you want to redeem your honor, you will swallow hard and make a list of all the stories you would print if it were McCain who had been getting money from Fannie Mae, McCain whose campaign had consulted with its discredited former CEO, McCain who had voted against tightening its lending practices.

Then you will print them, even though every one of those true stories will point the finger of blame at the reckless Democratic Party, which put our nation's prosperity at risk so they could feel good about helping the poor, and lay a fair share of the blame at Obama's door.

You will also tell the truth about John McCain: that he tried, as a Senator, to do what it took to prevent this crisis. You will tell the truth about President Bush: that his administration tried more than once to get Congress to regulate lending in a responsible way.

This was a Congress-caused crisis, beginning during the Clinton administration, with Democrats leading the way into the crisis and blocking every effort to get out of it in a timely fashion.

If you at our local daily newspaper continue to let Americans believe — and vote as if — President Bush and the Republicans caused the crisis, then you are joining in that lie.

If you do not tell the truth about the Democrats — including Barack Obama — and do so with the same energy you would use if the miscreants were Republicans — then you are not journalists by any standard.

You're just the public relations machine of the Democratic Party, and it's time you were all fired and real journalists brought in, so that we can actually have a news paper in our city.

This article first appeared in The Rhinoceros Times of Greensboro, North Carolina, and is used here by permission.

3 comments:

Sam said...

I hadn't seen this. I can't get enough of the Ornery American. I read Card a lot and love his stuff. My only beef is that I feel like he bites off more than he can chew and oversimplifies the hell out of it. Net impact from this article is:

Republicans are blameless in the housing crisis and Democrats are to blame. Oh, and the media sucks because they love Obama and hate McCain.

Does anyone seriously believe that? With a Republican President and a majority republican house and senate for the majority of Bush's administration... does anyone really believe that they were powerless to remedy the housing issues even if the Dems were responsible for 100% of it?

There is much more to this story, I'm afraid.

Lara said...

I agree with the comment above--its oversimplified a bit (bad guy, good guy) but I totally agree with his call for the media to step it up and have some morals (rather than a political agenda.) Good article Chris.

Shelley said...

After a quick read of this article, it is clear that there are many misconceptions that Mr. Card holds. He is a confused person. Read his bio and this is clear. From the outset, the article is framed to have us believe that Mr. Card is telling us the truth. The disclosure that he is a "Democrat" attempts to validate Mr. Card's anti-democrat stance. However, given his background-his support of G.W. Bush, the Iraq war, his anti-gay ideologies, and support of John McCain-he is unlike any Democrat I have ever known. In fact I have not found any place where he has actually supported any Democratic stances.

One of Mr. Card's most hilarious accusations is as follows: "These are facts. This financial crisis was completely preventable. The party that blocked any attempt to prevent it was ... the Democratic Party. The party that tried to prevent it was ... the Republican Party." His use of the ellipsis as a dramatic tool is equally pleasurable. His claims though are shockingly backwards. There is plenty of blame to go around on both sides; it would be incorrect to say that Democrats did not have a stake in this too. However, it is fair and accurate to say that Republicans have ALWAYS sided with deregulation of all markets. After all, isn't that the hallmark of manifest destiny; self sufficiency...ie, less government oversight? Indeed, we could have used more government regulation in these cases.

Strangely enough, Mr Card uses Barney Frank (D) as his whipping boy. Ironically, it was Mr. Frank who as Chairman of the Finance Committee, sponsored the following bills which were scripted to avoid, in part, what we are experiencing with the current crisis.

H.R.5830 : To create a voluntary FHA program that provides mortgage refinancing assistance to allow families to stay in their homes, protect neighborhoods, and help stabilize the housing market.
Sponsor: Rep Frank, Barney [MA-4] (introduced 4/17/2008) Cosponsors (43)
Committees: House Financial Services
House Reports: 110-619
Latest Major Action: 5/5/2008 Placed on the Union Calendar, Calendar No. 386.

H.R.3838 : To temporarily increase the portfolio caps applicable to Freddie Mac and Fannie Mae, to provide the necessary financing to curb foreclosures by facilitating the refinancing of at-risk subprime borrowers into safe, affordable loans, and for other purposes.
Sponsor: Rep Frank, Barney [MA-4] (introduced 10/16/2007) Cosponsors (None)
Committees: House Financial Services
Latest Major Action: 10/16/2007 Referred to House committee. Status: Referred to the House Committee on Financial Services.

Mr. Card tells us that the deregulation of wall street, the advent of the adjustable rate mortgage (ARM) and the collapse of the market had nothing to do with the Chairman of the Fed., Alan Greenspan and John McCain. This is totallly inaccurate.

Just recently, the following was written about Mr. Greenspan in the The New York Times, http://www.nytimes.com/2008/10/24/business/economy/24panel.html?ei=5070&emc=eta1 where he himself admits guilt on the crisis, "But on Thursday, almost three years after stepping down as chairman of the Federal Reserve, a humbled Mr. Greenspan admitted that he had put too much faith in the self-correcting power of free markets and had failed to anticipate the self-destructive power of wanton mortgage lending.'Those of us who have looked to the self-interest of lending institutions to protect shareholders' equity, myself included, are in a state of shocked disbelief,' he told the House Committee on Oversight and Government Reform."

Financial derivatives, which are described in the NYT article, act like "credit default swaps" on mortgage backed securities. These were specifically crafted by Republicans in the Commodity Futures Modernization Act of 2000. This bill, sponsored by the GOP and Alan Greenspan (who Mr. Card asserts was against deregulation) were a key problem in the latest fallout. Warren Buffett, an Obama supporter and economic advisor (as well as a renowned economist) famously described derivatives bought speculatively as "financial weapons of mass destruction." Incidentally, Phil Gramm (R) who was the main sponsor of the Commodity Futures Modernization Act of 2000, is also the economic advisor for John McCain.

Mr. Card points out that Barack Obama has received funds from Fannie Mae, but does not mention that John McCain has also received funds from Fannie Mae.

This article is rife with mischaracterizations, embellishments and mistruths-this is nothing more than trite schlock meant for the dying campaign followers of John McCain. This is not surprising coming from Orson Scott Card. Anyone who has read Ender's Game knows that he is known for writing one thing: science fiction.

michael.