Crony journalism at the NewsHour
Check out this transcript from a show run on November 16th of this year:
JIM LEHRER: In the worst-case scenario, the panel says courts could block foreclosures. Banks would be left holding bad mortgage loans that cost them billions of dollars. That in turn would deepen disruption in the housing market.
But, in the best case, the Oversight Panel acknowledges, concerns about mortgage documents may prove to be overblown, a view embraced by the financial industry. This afternoon, executives from two major lenders, J.P. Morgan Chase and Bank of America, appeared before the Senate Banking Committee.
Bank of America is an underwriter of the NewsHour. The committee pressed them on today's report and their plans for managing foreclosures going forward.
Yes indeed, if the courts block foreclosures, that would deepen the disruption in the housing market, unlike say, turning entire neighborhoods brown by rocket-docket foreclosure railroading.
And concerns about the paperwork are overblown. No guest appearances by Matt Taibbi or Marcy Wheeler on the Bank of America show.
At least Lehrer disclosed that Bank of America is a NewsHour sponsor.
So follow me closely. Senator Jay Rockefeller votes for the bailout, Bank of America takes part of that money and sponsors the news show that is produced by his wife's TV station which then has the effect of suppressing all discussion of foreclosure.
During the whole of December there has not been a single story on the foreclosure crisis, despite the fact that WETA's home viewing area is one of the worst hit.
That is how Versailles works. All kleptocracy all the time.