Anyway, it’s precisely the arrogant comments Keller [NYT exec editor] is attributed with above that is the reason(s) the NYT is failing. Won’t it be funny when the NYT goes to Web-only publication, that will make it just another blog and the “reporters” will just be bloggers lie millions of others.

Get this: I am working on a book that covers WWII between Japan and the U.S., among other periods in history, and the source information is rife with examples of the NYT publishing “news” harmful to the country, untruthful, or harmful to the military.

I have kept notes of the sources wherein I find NYT being deliberately harmful to the interests of the U.S. If you add up all the examples it would make a good book in itself – something titled like “NYT — A Century of Disloyalty” , which comes to mind on the spur of the moment.

Funny, even as the NYT is going down the execs are in some of the most hardcore denial I have ever seen and utterly unwilling to admit anything — much less their pathological bias. They rationalize by saying things like “The advertising dollars are going to the web…”…Right ! As the ideological refugees from the NYT rag flee the “news”paper, so do the ad dollars…except the NYT is trying to spin that fact as something beyond their control.

One good example. I don’t have the book “The Elephant and the Tiger” at hand but the the NYT is guilty as charged. Read on.

The British Ambassador in Hanoi, John Colvin, personally witnessed the ebb/flow of the fortunes of the communists. He said in 1965 and 1967 the united States had the war won due to the bombing campaigns, despite Johnson and McNamara’s stupid target restrictions and on/off again bombing.

But, Colvin said, The United States “…renounced victory…” and through bombing halts allowed the North Vietnamese to recover. The American people were not sure the war was being won, though the British Ambassador said it was over no less than twice during his tenure in Hanoi.

Key to American perceptions during the war was the NYT “reporter” named Duranty. His job was to spin the facts and present a totally skewed vision of the war; i.e. the magnanimous North Vietnamese helping children, butterflies and providing aid, the equality and humanity of the communist system and government blah, blah, blah…

The NYT slavishly printed Duranty’s fantasies as fact and often ran his junk as headlines or above the fold. There was at least on reporter (forget his name) who was concerned the American people might actually believe what the NYT was printing so he did his best to tell the truth, especially about Tet, which was a resounding Allied success and had the war won again, for the taking…

But the NYT led the charge to lose Johnson’s war as a way to ‘get’ Nixon (go figure) and discredit America as the NYT has always seen the U.S. as “arrogant” and
“abusive”…think of the vets’ lives the NYT destroyed…

Now, I WANT PAYBACK !!! I want the NYT to go down, never to rise again, even as a Web-only blog.

My, my, memories are long and maybe there is such a thing as Karma, eh ?

I greatly appreciate the kudos, but have them read Simon Johnson’s piece. He really does spell it all out in pretty straightforward – naming names and taking no prisoners kind of way. And in way more detail than I put in my post.

There are a lot of key nuggets of information that are making their way to the surface, but as is their standard MO, the media seem determined to treat it all as fluff pieces. It gets very disheartening at times.

Maybe not here, but there have been MASSIVE riots in London the past few days!

This media created myth that this is the worst financial crisis we have faced since the Great Depression is just that – a myth. This was an average recession that was compounded by a very long term systemic problem.

In a free market you can count on some sort of recession every 8-10 years when the market becomes over-valued.

But recessions always expose systemic problems we tend to ignore while times are good.

I have found that most times these systemic problems are the result of either government imposing politically driven regulations or government not enforcing existing regulations.

The corporate scandels in the late 1990’s were the result of government not doing its job in enforcing existing regulation. The same situation occured recently with Madoff and Stanford.

However, the roots of the long-term credit mortgage and crisis was not the brainchild of bank or Wall Street institutions – they were the forced on banks by an over reaching government and the courts seeking to force equal housing opportunities by making banks bend their rules for mortgage qualification. Then the banks had to create financial tools to make these type mortgages work. And that inevitably led to subprime loans and even fraud.

This was not a result of a bunch of Wall Street tycoons sitting around and conjuring up ways of screwing Americans. It began with politicians pandering to their constituencies and not caring about the financial consequences.

“Elizabeth Warren of the Congressional Oversight Panel is quoted as saying before a Senate Finance Committee hearing, “We do not seem to be a priority for the Treasury Department.”

Why would she expect to be a priority? This is only taxpayer dollars we are talking about here.

“We have sent letters. We have requested that there be someone named so that we can get technical information. And so far, we have not been a first priority,” she said. “We use what you give us, and we will exercise the leverage given to us by Congress. In part, that’s why I’m here today. I’m here to talk to you about what’s happened so far, what we have discovered so far, the inquiries that we have in mid-stream and for which we continue to await responses.”

She added, “This problem starts with Treasury.”

And this is the very Department we’re expected to trust our economic futures to.

And then, we have the remarkable “goof” from Geithner himself claiming that there was 100,000+ billion dollars left in the TARP account when in fact the number is more in the vicinity of 32 billion waiting to be spent.

But what’s a few billion among friends??

I’m also glad you mentioned Teddy Roosevelt’s “trust-busting” force. This was a line that popped out at me from Johnson’s essay: that rather than conjuring up Franklin Roosevelt, we’d be well advised to revisit Teddy Roosevelt as we try to navigate this financial morass. As Johnson so succiently stated:

If it’s too big to fail then it’s too big to exist because anything that big threatens to be a financial weapon of mass extinction.

Good followup!

If at some point, as this debt ages, the consumer could be allowed to pay down the older debt interest free, it could prove to be a huge tool in giving tens of millions of consumers MORE buying AND saving power each and every month.

I created a free website with no ads a few hours that explains this phenomenon.

Allowing millions of consumers to pay down their older credit card debts interest free would prove a superior stimulus plan to just printing more money.

http://www.Credit-Card-Cap.com

http://www.DailyPUMA.com