When the facts change, I change my mind. What do you do? -- John Maynard Keynes

Sunday, September 22, 2013

The New York Times, Naive or Corrupt Propagandists?

It is a legitimate question -- Exhibit #1:

The SEC Flacks Paint Lehman’s Looters as the Victims of a “Political” SEC | The Big Picture: " . . . Cannelos and the SEC flacks now have the chutzpah to try to spin one of the SEC’s worst enforcement failures into a morality play in which Cannelos is the hero precisely because he refused to hold Lehman’s looters accountable for their violations and allowed them to walk away wealthy with the proceeds of numerous insider fraud schemes.  The villain becomes Ms. Schapiro who is reimagined as a would-be unethical official who tried to sue the poor, innocent Lehman officers for “political” reasons but was blocked from doing so by Cannelos’ selfless valor and dedication to “justice.”  It is an odd form of “justice” in which the most elite frauds became wealthy by scams that caused a $11 trillion loss to American households and cost over 10 million Americans their jobs and avoid all accountability for their frauds.  But that is Cannelos’ definition of “justice” and the NYT reporters are so credulous that they have become the propagandists for Cannelos and Lehman’s looters." (read more at the link above)

"All the News That's Fit to Print" -- LOL!


The Big Picture

Financial Crisis - The Telegraph

JohnTheCrowd.com | The Sailing Website

Craig Newmark - craigconnects