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I honestly can't spare the time or aggravation to listen to them, but I'm curious as to what the likes of Rush Limbaugh and Michael Savage are saying about the current turmoil in the financial markets. Can anyone summarize their recent positions for me?

Comments

( 6 comments — Leave a comment )
adayinthelife
Sep. 22nd, 2008 07:28 pm (UTC)
maybe your demographic isn't well prepared to answer this question :-)
kmo
Sep. 22nd, 2008 07:43 pm (UTC)
So it would seem
I can't say I'm TOO disappointed.
azalynn
Sep. 23rd, 2008 02:27 am (UTC)
I haven't been listening to them, but to hazard a guess, I would imagine they're blaming liberals.
kmo
Sep. 23rd, 2008 12:20 pm (UTC)
I would imagine they're blaming liberals.
I would imagine that you are right.

I had heard a few months ago that Rush was laying the blame squarely on people who took out loans that they couldn't really afford to service, and that all other parties in the transaction, from the mortgage broker who found them a bank with sufficiently compromised lending standards, to the institution that actually made the loan and then immediately sold it, to the entity that bought the mortgage and bundled it with thousands of others to create a mortgaged-backed security product, to the rating agency that deemed those mortgaged-backed securities triple A, "as good as cash," all remain blameless.
stanleylieber
Sep. 23rd, 2008 05:14 am (UTC)
According to Sean Hannity, the evil bail-out is Obama's fault because he is the no. 2 recipient of contributions from Fannie and Freddie. He repeats these phrases over and over again, every day (for the past two weeks):

- "Friends of Obama, friends of Clinton" (meaning the officials in charge of Fannie and Freddie)

- "Transfer of wealth" (referring to the bail-out)

He points out repeatedly that McCain sounded the call for mortgage reform up to three years ago, and that Obama's financial adviser made $90 million dollars over six years in his position at Fannie/Freddie.

It's interesting because Hannity doesn't speak in complete sentences. He strings together catch phrases, I suspect to drive home his point to people who 1.) aren't paying close attention, 2.) lack the faculties to understand what he's talking about, 3.) may be overhearing the broadcast at a remove (most frequently blasting from a car window or in the background on the telephone with an outside worker).



kmo
Sep. 23rd, 2008 12:29 pm (UTC)
Ah, Sean Hannity.
My mind races along paths I don't have time to articulate here, but it really does seem that media and information technologies are working simultaneously to make us both more and less sophisticated in our thinking, both smarter and dumber. I think both agendas are succeeding, and while it would easy to take the self-congratulatory route and assume that some people are getting smarter and other people (stupid, blue collar Republican voters) are getting stupider, I think both programs are probably working effectively on most people, myself included.
( 6 comments — Leave a comment )

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