Mr. Whitney gives an excellent account of how Sen. Levin interrogated Goldman Sachs Executives. A very good read.
Through persistent questioning, which bordered on hectoring, Levin was able to prove his central thesis:Obviously an important story. We are in the midst of the worst downturn since the Great Depression. Now finally there's an important hearing revealing at least a bit of the fraud that led to the downturn.
1. That Goldman puts its own interests before those of its clients.
2. That Goldman knowingly misled it clients and sold them "crap" that it was betting against.
3. That Goldman made billions trading securities that pumped up the housing bubble.
4. That Goldman made money trading securities that triggered a market crash and led to the deepest recession in 80 years.
The hearings lasted for 8 hours and included interviews with seven Goldman executives.
Now, lets see what importance CNN puts on this story. Here's a composite for their website the day after this hearing. I've circled this story in red.
Does CNN want to know its viewers thoughts on this? No. The poll question on the day after this hearing is whether we should be afraid of space aliens?
The real question is whether we should be afraid of CNN?
I wish I could tell you whether CNN showed these important hearings live. But I can't. I've used the parental blocking controls on my TV system to block CNN, FauxNews, MSNBC and the whole lot from my home. A vast improvement to my TV system that I would recommend to everyone.
1 comment:
I put this up for an important reason. Often, people wonder how the American people seem so asleep? How they never seem to get active on important issues.
This is an illustration of why that is and how that works. When the American people should be outraged that a bunch of wall street bankers just crashed the economy, cost millions their jobs, many their houses and destroyed who knows how many families and drove who knows how many Americans to suicide .... instead, CNN helps to keep that from happening by under-reporting the story.
In fact, CNN seems rather obviously to be trying to divert attention away from wall street (which was of course heavily involved in making CNN a part of TimeWarner), and towards CNN's favorite bogey-man issue .... illegal immigrants.
Politically, the most important thing we can do is to attack the trust that Americans put in to 'news' sources like CNN and Faux.
This is how the American people are manipulated. Every time we can get one more American to either turn this crap off, or to simply laugh out loud when its on TV, then that's a victory for us.
Never stop reminding others of how we've been lied to. Of how CNN lied us into these wars. Of how CNN lied to us about Enron. Of how CNN never told us trouble was coming despite many warning signs.
Start working today to convince one person not to watch, listen or believe a word that channels like CNN or Faux say.
We'll need that on some important election day when a real opposition candidate is threatening to win and CNN and Faux and the rest of the decievers will be trying to trash that candidate. What we want is a population that either never turns on those channels, or that just laughs at them and then goes on to vote for the candidate that will represent them instead of wall street.
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