Matthew Vadum at Newsbusters, the popular website that holds media accountable, rips Nick Carey of Reuters for his story connecting payday lending to the housing crisis. He particularly takes issue with his promiscous quoting of liberal activists.
Some key quotes:
Carey bases his article almost entirely on anecdotal evidence and on statements by activists with an axe to grind: apart from the borrowers themselves, every single person or group quoted in the article is at the left end of America’s political spectrum. Carey also confuses cause with effect, ignoring the possibility that homeowners facing foreclosure may already be doomed financially by the time they head to the local money mart for a payday loan.
To sum it all up, the groups that Carey treats as impartial experts, are anything but. These are the same groups that coined their own neologism –the “unbanked”—to describe those who lack bank accounts, as if conducting transactions using financial institutions were somehow a basic human right.
And journalists wonder why the American public doesn’t trust them.
