Risky Business

From NewsHounds:

You know Neil Cavuto right? He’s the head of “business news” at the Fox “News” Channel and at the Fox” Business” Network.

Here’s what he had to say about the financial crisis when discussing it with Rep. Xavier Becerra (D-CA):

Did you warn or express concern about any things that happened? I’m not saying that one or the other is beyond blame, I’m just saying I don’t remember a clarion call that said Fannie and Freddie are a disaster. Loaning to minorities and risky folks is a disaster? Maybe if you said it, enlighten me.

minorityreport
Original DVD cover.

You can see the clip at the link above.

Seems like the chubby little a$$hole got the talking points. From Adam Serwer at The American Prospect:

Sure, it’s a reflexive conservative technique, but it’s tried and true, and after all, there is a black guy running for president. The easiest way, after all, to obscure the fact that conservative deregulation policies are at the heart of the credit crisis is to blame black folks, and doing so has the added advantage of making the guy running on the other ticket the reason for the meltdown. Investors’ Business Daily sets the tone:

To hear today’s Democrats, you’d think all this started in the last couple years. But the crisis began much earlier. The Carter-era Community Reinvestment Act forced banks to lend to uncreditworthy borrowers, mostly in minority areas.

Age-old standards of banking prudence got thrown out the window. In their place came harsh new regulations requiring banks not only to lend to uncreditworthy borrowers, but to do so on the basis of race.

This line has been echoed by Neil Cavuto and Lisa Schiffren (who you might remember from such racist insanity as “miscegenation is a product of communism”). […] But even if 100 percent of bad debt had been produced by people of color, the reason for the financial collapse is that debt was chopped up and marketed as mortgage-backed securities to financial institutions all over the world.

…snip…

But never underestimate the dedication of conservatives to using white resentment as a political tool, or the resolve of the party of personal responsibility in blaming everyone else for their problems.

Of course, all of that doesn’t mean that the Captain Underpants will use race to defend one of their own! From The New York Times:

Senator John McCain’s campaign manager [Rick Davis] was paid more than $30,000 a month for five years as president of an advocacy group set up by the mortgage giants Fannie Mae and Freddie Mac to defend them against stricter regulations, current and former officials say.

…snip…

[…] last week the McCain campaign stepped up a running battle of guilt by association when it began broadcasting commercials trying to link Mr. Obama directly to the government bailout of the mortgage giants this month by charging that he takes advice from Fannie Mae’s former chief executive, Franklin Raines, an assertion both Mr. Raines and the Obama campaign dispute.

Incensed by the advertisements, several current and former executives of the companies came forward to discuss the role that Rick Davis, Mr. McCain’s campaign manager and longtime adviser, played in helping Fannie Mae and Freddie Mac beat back regulatory challenges when he served as president of their advocacy group, the Homeownership Alliance, formed in the summer of 2000. Some who came forward were Democrats, but Republicans, speaking on the condition of anonymity, confirmed their descriptions.

…snip…

Asked about the reports of Mr. Davis’s role, a spokesman for Mr. McCain said that during the time when Mr. Davis ran the Homeownership Alliance, the senator had backed legislation to increase oversight of the mortgage companies’ accounting and executive compensation. The legislation, however, did not seek to change their anomalous structure as private companies with federal support.

The spokesman, Tucker Bounds, also noted that the Homeownership Alliance included nonprofit organizations like Habitat for Humanity and the Urban League. “It’s not controversial to promote homeownership and minority homeownership,” Mr. Bounds said. More than a half-dozen current and former executives, however, said the Homeownership Alliance was set up mainly to defend Fannie Mae and Freddie Mac by promoting their role in the housing market, and the two companies paid almost the entire cost of the group’s operations. (emphasis mine)

Oh, those lobbyists and their hearts of gold! 🙄

17 Comments

Filed under 2008 election, Barack Obama, Democrats, humor, John McCain, movies, parody, politics, Republicans, snark, Wordpress Political Blogs

17 responses to “Risky Business

  1. OOOH and NOW Rick Davis was paid 15K a month up UNTIL A MONTH AGO!! Or his firm was. And Captian Undies actually went on 60 mins. and tried to lie and put out smear ads claiming Obama was the one on the dole from FreddieMac… tsk tsk. GREAT post and that Cavuto poster killed me, little fat asshole indeed, last night he made Keith’s worst person award for just the incident you’re reporting.

    You rock, Nonnie!!

  2. helenwheels,
    it just goes to show you how little common sense the capt underpants campaign has. they make scurrilous accusations, and they don’t stop to think that the whole thing is going to blow up and kick them in the ass the next day! 🙄
    you rock, too, helenwheels! 😀

  3. jlms qkw - jenn

    so that’s what cavuto looks like.

    i missed you last night! i was hosting ond and hanging in dr and stuff.

    i want to have hope – if mccain closed an iowa office. i really want to have hope.

  4. I remember when Cavuto was on CNBC. He was a worse hack/shill than Kudlow is now. I was glad when he left.

  5. jenn,
    i saw that you were quite busy last night.
    on one hand, i am hopeful, because i think the capt underpants campaign is imploding. on the other hand, i am wondering how many years–or maybe decades–it will take until the economy is not on the verge of disaster.

  6. neon vincent,
    cavuto is the guy who everyone hated in high school and wanted to beat up. he’s on tv now, so he doesn’t realize that everyone still hates him and wants to beat him up.

  7. nightowl724

    You and your titles, nonnie! They’re grrrreat, just like sugar-frosted flakes!

    So much slime from the Repukes. Greasy, oily slime as you noted above.

    Has anyone seen our country lately?

  8. nightowl724

    OOPS! I almost forgot…

    nonnie9999 ’08!

  9. nightowl,
    i think i did happen to see our country. it’s for sale on craig’s list.

  10. Cavuto is to “news analysis” what a carbuncle is to a dirty ass.
    Beware chinless slobs with greasy hair.

  11. guys like him put the anal in analysis.

  12. Here’s a meme for you Nonnie–Sarah Palin=Evita Peron. I’m sure you can do something with it.

  13. neon vincent,
    did you see the parody our friend, dcAp, did? he did one about sarahita and one about condita.

  14. jeb

    Leaving a trail of slime wherever he goes…

  15. jeb,
    even snails would reject him.

  16. dont hope cavuto gets tossed out of his house one day

  17. dcAp,
    i have fantasies of one day bumping into one of these moronic talking heads and telling them just how stupid they appear to the average person. in my fantasy, this always occurs in a very crowded place, i am very loud, and the crowd joins me in the derision.

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