Abigail C. Field: Evidence Surfaces Reuters Will Publish Propaganda As News

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Abigail C. Field: Evidence Surfaces Reuters Will Publish Propaganda As News

Abigail C. Field: Evidence Surfaces Reuters Will Publish Propaganda As News

I have to agree with Abigail when I read this the other day. I said what’s this BS… I did not post this because it was a bit odd coming from Reuters and did not make sense.


Abigail Field-

Normally I’m a fan of Reuters, it has backed some terrific reporting on the banks’ fraudulent foreclosure documents and I respect many of its reporters. But this piece: “Insight: Evidence Surfaces Anti-Foreclosure Laws May Backfire” is pure banking industry and Federal Reserve propaganda. The goal of the propaganda campaign reflected the piece (and one in HousingWire I debunked six weeks ago) is to eliminate barriers to the banks’ use of fraudulent documents to seize houses. That is, going after judicial foreclosures and efforts to defend private property rights and the rule of law.

The Housing Crisis Is NOT Caused By Helping Homeowners 

The Reuters piece aggressively misrepresents the idea that huge “shadow inventory” and the problems it causes for the housing market as proof that Due Process and efforts to stop banker fraud are hurting the housing market. That’s total B.S.

The first part is true–having huge shadow inventory and having lots of underwater homeowners is horrible for the housing market and the broader economy. But the second part–the assertion that judicial process, Due Process, and efforts to stop banker fraud are what’s causing the delays, is completely false.

Bankers Are Responsible For the Housing Crisis

[REALITY CHECK]

image: billhicksisdead.blogspot.com

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