Nocera: Those Who Spread Lies About The Crash Make It Impossible To Address The Real Problems Behind It (crooksandliars)
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Times business columnist Joe Nocera, who’s sometimes a little too trusting
about business, seems to have had an epiphany – namely, that the right wing
message machine makes sh** up to suit themselves. He parses the construction
and dissemination of the false wingnut meme that Fannie Mae and Freddie Mac
crashed the economy:
> You begin with a hypothesis that has a certain surface plausibility. You
find an ally whose background suggests that he’s an “expert”; out of thin air,
he devises “data.” You write articles in sympathetic publications, repeating
the data endlessly; in time, some of these publications make your cause their
own. Like-minded congressmen pick up your mantra and invite you to testify at
hearings.
>
> You’re chosen for an investigative panel related to your topic. When other
panel members, after inspecting your evidence, reject your thesis, you claim
that they did so for ideological reasons. This, too, is repeated by your
allies. Soon, the echo chamber you created drowns out dissenting views; even
presidential candidates begin repeating the Big Lie.
>
> Thus has Peter Wallison, a resident scholar at the American Enterprise
Institute, and a former member of the Financial Crisis Inquiry Commission,
**almost single-handedly …
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