Just Wired

I stopped watching Fox News a long time ago but I still remember Neil Cavuto, the host of Your World with Neil Cavuto, the business “expert” of the channel. I remember the smugness oozing out of the screen as he went about spouting dead conservative economic theories while doing the bidding of his master Roger Ailes in defending the Bush administration’s policies. With the economic meltdown in the news the blame game has already started, the majority blaming the Republican party’s policy of deregulating the banking industry over the past years. Some also blamed the SEC, the Bush administration, the Federal Reserve and even Henry Paulson. Who does Mr. Cavuto blame for the mess?

CAVUTO: — did you warn or express concern about any of the things that happened? I’m not saying that one or the other is beyond blame –

BECERRA: Oh, absolutely, we did. Absolutely.

CAVUTO: — I’m just saying, I don’t remember a clarion call that said, “Fannie and Freddie are a disaster. Loaning to minorities and risky folks is a disaster.”

Source: Media Matters

Really? Loaning to “minorities” caused the economic meltdown? I think I just found out who the next recipient of the Nobel Prize in Economics is.