NY Times Piece Echoes Right-Wing Falsehood On Financial Crisis

[NNN0LHI]

http://mediamatters.org/research/201107200034

July 20, 2011 5:48 pm ET

The New York Times published a piece by Reuters' BreakingViews.com that attacked the Dodd-Frank financial reform law for not sufficiently regulating Fannie Mae and Freddie Mac, which the piece suggested were central causes of the economic crisis. This claim echoes a right-wing talking point, but as economic experts -- including Nobel Prize-winning economist and Times columnist Paul Krugman -- have explained, it has no basis in reality.

Times Piece Suggested Fannie, Freddie Were Central Causes Of Economic Crisis
New York Times Piece: Lax Mortgage Lending Was "Central" To Financial Crisis, But Financial Reform Law Did Not Focus On Fannie And Freddie. From a July 18 piece by Reuter's BreakingViews.com published by The New York Times:

A year after passage of the Dodd-Frank act, the $10.5 trillion American mortgage market remains in limbo. One big reason is that the law scarcely touches Fannie Mae, Freddie Mac and the Federal Housing Administration -- the government-run lenders that dominate the home loan market.

[marmar]

1. The NYT has become rather adept at echoing right-wing falsehoods.

nt

[SpiralHawk]

2. The Dirty Dozen (R)