I read an article that summed up pretty well why I don't trust the media at all these days (and, I promise, this is not about politics until the very end).
Here is an article from the NY Times Magazine. Please read it and then come back. I'll wait. It is about the mortgage meltdown.
This article makes me madder than hell. The writer describes how he got into a financial mess, agreed to mortgages he doesn't understand (or care to understand), and - in reality - he knew he shouldn't be signing the documents in front of him, but he did anyway.
And this is an Economics Reporter for the New York Times. The "chief eyes and ears" on the Federal Reserve for the past 6 years.
Look, the mortgage crisis took a lot of people by surprise. But I would expect that people like this halfway understood the consequences of the situation. It's not fiscally responsible to sign mortgages that large. Sure, everyone may be "doing it", but for God's sake, you are a so-called economics expert. You should know better. It's your fucking job.
This is not like Michael Wilbon falling into a bad mortgage. Or George Will not knowing who is on American Idol. Or Jim Cantore not knowing the Vice President. This is your field. Millions are depending on your insight to educate them on the Fed policies and complicated economic topics (those millions, of course, are dwidling by the hour). And you can't even pay your mortgage - due to issues of your own making.
I'm sure we are going to be bailing out this person in the future in some form. And I'm sure his friends in the media will support whatever package comes through Congress because, "hey, we're all in this together".
You're the fucking expert here. What the hell were you doing for 4 years?? And you have the audacity to teach - or even lecture - to us about economics in the New York Times? Give me a break.
I'm sure we have all seen this in our fields. I'm sure Steve can point out factual errors - obvious ones - in foreclosure articles in the Plain Dealer. Layup, I would guess, can spot errors about news articles about the insurance industry from a mile away. Hell, when John Clayton says the Browns fans are excited about Brady Quinn because he's a "hometown Cleveland boy", it makes my blood boil because he's FROM COLUMBUS.
(See? I can reference the Browns in any blog post!)
It's become more and more clear that the "experts" in the media are really half-educated idiots. Again, how can I trust anything this man says about Fed policies when he hasn't paid a mortgage in 18 months due to his personal failings in buying his own house?
"Patty and I were now unwittingly tapping into our credit line at a terrifying pace: $5 overdrawn because of school supplies for Patty’s daughter Emily — $100 from the MasterCard."
An economics writer at the New York Times that can't balance his own checkbook? Now that's scary.
"As I walked out of the settlement office with my loan papers, I couldn’t shake the sense of having just done something bad . . . but also kind of cool."
This is irresponsibility at its most.... arrogant. The writer feeling "cool" that he did something extremely risky with his money. Damn the advice - it's cool to spend money!
In sum, if we have exposed the economics writer at the NYT for what he is - someone who can't handle his personal economics - how can we trust anything anyone says in the media? We can't.
On a side note - How come I think 75% of journalists - 90% of which are Democrats, by the way - had the same feeling when they voted for Obama? "It's cool!".
(I know, I know, that last setence was kind of a cheap shot. But I think there is a point in here somewhere. Journalists who - let's face it - may not be the most educated people on the planet - deciding who to support because of the coolness factor. I'm too tired to think this out more fully, but I think there is a valid critique in here somewhere.).
3 comments:
Wow, pretty good post until the end. But, I think you're generalizing and yeah the Times has lost a lot of credibility the last few years. You can't judge the media by that putz. I read that article a couple days ago and couldn't believe this guy would detail how stupid he was. Half a million dollar mortgage with $120,000 salary? Are you kidding me?
The cheap shot at the dems was unnecessary to make your point. But, i guess if you can compare all dems to this guy, I can use that fat fuck Limbaugh as your poster child.
Mer:
Hold on there. I am not taking a shot at the dems - I'm taking a shot at the journalists. I am in no way saying all/most democrats are fiscally irresponsible.
I'm sick of the mistakes and hypocrisy of the so-called "experts" in the media. You say we can't judge the media by this guy - why not? THere are too many examples out there of so-called "experts" making mistakes that make the audience question their knowledge.
The "coolness" thing bothers me as well. Too many jounralists like to jump on the latest bandwagon and ride it. To counter my Obama example, many people are still upset at the media giving the Bush department a free pass to invade Iraq in 2003. I think it's the same thing. No one else is questioning - why should I? It's the same behavior.....an unthinking, "dumb" media - one I can't trust.
I feel like I am rambling here...I'll post later if I become more coherent.
I loved his first sentence. Blah, blah, blah, as an economics reporter for the New York Times Magazine.... Like that should give him any credibility. As what I don't know? My take is that when I read it I'm like this guy must know what he's talking about. But, then after reading it, I'm thinking this guy is a complete moron and I think it reflects poorly on the Times Magazine. Now, I don't know if the Times Magazine has the supposed standards as the New York Times, but this guy is an embarrassment. Can I say it again that he's a moron.
And, I can understand your reaction. But, maybe we just need to sit back and focus on what this really is. It's an article written by a stupid reporter and not an economist or PHD or whatever. Like it or not, the media is there to sell papers and advertising. Report the facts? The facts are boring, let's sensationalize, let's talk about Biden's foot in his mouth, let's focus on Palin's daughter and her child born out of wedlock. That's a lot more interesting and brings more money in. I do expect a higher standard from the Times, but I guess they're still just reporters and to think of them as experts in any area is giving them too much credit.
And, I for one didn't vote for Obama because of the "cool" factor. I'm sure some people did, but I'm also sure a lot didn't because he's black. So, it's a wash.
Post a Comment