From Dean Baker (of/on the TAP/Beat the Press blog), one of the few economists who seem to have had it mostly right, on the subject of Richard Bove ("Bovay") getting his nationally broadcast, lingual prostate-laving this morning by NPR's eternally credulous and chipper news reader, Steve ("Little Squeaky") Inskeep. The 'interview' seemed in keeping with NPR's self-appointed duty to buck up the spirits of Middle-Class (and upwards) America in these hard times...The hed is Baker's:
NPR Presents the Views of Economic CreationistIrresponsible it might be, but I bet you there were waves of relief lapping like oceans of warm urine around the kitchens and breakfast nooks of Murkin middle management this morning.
The banks are just fine. Only a small number of loans have gone bad. Ah yes, it's a beautiful day. I suppose we have full employment also.
It's great to have diverse viewpoints, but NPR should try to make sure that the economic analysts it features have some grasp of reality. Richard Bove, who was featured on a segment on Morning Edition, doesn't fit the bill. Banks are seeing record default rates on all forms of loans and will continue to do so for the next two years. It is absurd to contend that the banks are just fine as Mr. Bove contends. It is irresponsible to present this as a serious position.
Unasked, of course, was/is: "If you're correct, and the crisis is a scam, what happened and still is going to happen to all that loot that the Busheviks shoveled at the banks in their last months in power?"
Squeaky, of course, couldn't even bring himself to ask Bove what the sources were for the numbers he was throwing around to buttress his claims. Apparently he didn't want to risk embarrassing his guest by inquiring why his numbers were so much smaller than those in the public conversations. He noted a disparity, but never asked Bove to explain it.
But if you're the Nation-wide Propaganda Repeater, probably there are things you don't wanna ask...I, for one, am not especially excited that NPR seems to have become the apotheosis of the CorpoRat Press, given that
In the CorpoRat State, corporate media are the State Media!