Wednesday, September 21, 2011

truthout.org should respect its mission.

I just got an email from truthout.org with the subject "Message to Banks: Pay US Back." This caught my attention, so I opened up the email and the first thing I see is a "DONATE TODAY" button, encouraging me to give money to truthout.org. But nevermind that, I want to know about this bank business. So I scroll down and read the lead article which alludes to an accusation that banks have not paid back the bailouts we (well...Bush) gave them three years ago. Then the article goes on to say other ways the banks should repay us that aren't related to the bailout loans.

I know on good authority (LA Times, NY Times, Washington Post, the Tarp Policy Director) that the bank loans are not only repaid but making a huge profit for the Government (~$20 billion). Kudos to the fat bankers in NYC. That said, I do not think the banks are off the hook. As the article suggests, banks should be helping with costs related to their near-meltdown including picking up the tab for policing vacant and foreclosed properties, reducing principle on more underwater mortgages, and spending some of their cash on new jobs rather than keeping it in reserves.

But enough about bank policy, this email angered me! The fact that truthout.org espouses a "truthful and transparent" media in the very same email that includes an incendiary and incorrect accusation which is clearly designed to raise money (DONATE TODAY) is pathetic. Don't stoop to the level of Fox news and manufacture headlines for your bottom line. Let's be truthful here. Too much to ask from one liberal to another?

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