Journalism grows slack when it fails to ask questions. . .Its curiosity is like sex – use it or lose it.
The Media delved into Gov. Sarah Palin’s Alaskan past. Her Republican presidential running mate complained about the background check. And that political tactic now seems stronger than journalistic curiosity.
The reportage wanes as the Palin phenomenon waxes stronger.
Reporters also seem to have used up their quota of inquiry on politics just when we need answers about economic issues..
They need to ask if Americans really want Uncle Sam as a landlord.
The case for Treasury takeover of Fannie Mae and Freddie Mac sure seems compelling.
The Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation are a mess. Heads had to roll along with any other cliché that would clean up the government-sponsored secondary home mortgage market.
We don’t yet know for sure if the debacle in the total pubic and private securitized loan market will bring down the American economy.
So the government had to reform the two federally backed agencies that own half the mortgages in the nation.
But insuring the market is different from owning it.
We have just socialized mortgages in this country.
And the Press is asking fewer questions than about The Bridge to Nowhere that connects falsehood with Gov. Palin’s claim to reform public works.
For decades we’ve resisted socialized medicine.
Even now Sen. John McCain, the GOP presidential candidate, campaigns against letting a federal bureaucrat stand between my doctor and me.
So why would I want a government clerk overseeing where I lay me down to sleep?
That’s neither a conservative nor a liberal question. It’s something sensible for The Press to ask as surrogate for ordinary, everyday folk.
Yes. Something had to be done about Fannie Mae and Freddy Mac. And quick.
The swift and sure government action, however, has the look of forever about it.
Why isn’t there a sunset provision built into the takeover? Then the government could fix the problem and get out of the mortgage business, returning it to private or quasi-private enterprise.
But the business pages and Wall Street programs on TV aren’t asking that question.
Journalism grows slack when it fails to ask questions.
Its curiosity is like sex – use it or lose it.
1 comment:
I couldn't agree with you more. One of the key factors which has become lost in this (manufactured) debate is the fact that Fannie Mae and Freddie Mac were founded as semi-governmental agencies in the first place!
It was the federal government which contributed to the economic crisis with their encouragement for people to borrow. All the signs were there that the housing market would implode yet people preferred to wallow in their momentary self-gratification to even notice.
Likewise the Federal Reserve cartel of private banking interests contributed to the crisis with their manipulation of interest rates and just generally a monetary policy run amock.
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