November 22, 2011 3:45 pm ET — Alan Pyke
Last night on Fox Business’ Follow the Money, Rep. Joe Walsh (R-IL) reiterated a pair of connected ideas that are very popular on the political right despite clashing with established facts. In the era of Occupy Wall Street, many elected Republicans and right-wing media figures hold two articles of faith: (1) The finance industry cannot be blamed for the housing bubble and ensuing global financial crisis that put tens of millions out of work; and (2) Occupy protesters are anti-American tools of the left, working to replace capitalism with centrally planned egalitarianism. Here’s how Walsh expressed the first part of that last night:
WALSH: Look, I’m no defender of the banks, the big banks especially, and if I were in Congress a few years ago I wouldn’t have voted to bail them out, we have bailed them out. But come on, they didn’t cause this problem. The town that I work in caused this problem. Washington, D.C. And too many folks don’t understand that, or do understand that and they’re just trying to purposely cause a disruption.
Notice that Walsh offers no facts or evidence to support his exoneration of the banks. No one, from the nuttiest congressman to the mayor of New York City, ever does. As we’ve demonstrated, the facts are not on their side. Bailout Nation author Barry Ritholtz observed recently in a Washington Post op-ed that these people eschew supporting arguments because “facts and data matter much less than a narrative that supports their interests.” Indeed, the “don’t blame the banks” narrative directly supports right-wing interests in the context of national Occupy momentum. Here’s Walsh again: Read More
November 22, 2011 2:59 pm ET — Jamison Foser
There’s some pretty stiff competition, but Rep. Bill Huizenga (R-MI) tells the biggest lie ever told about the deficit reduction super committee:
Huizenga claims Democrats refused to cut “ANY spending.” Actually, super committee Democrats proposed more than $1 trillion dollars in spending cuts. Huizenga’s claim was zero percent true. A trillion dollars from reality. A pants-on-fire lie. Read More
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