I’ve run out of patience with tired memes and discredited claims by fools and partisan.
The rhetoric of those pushing nonsense on the public in an attempt to confuse rather than illuminate — the phrase is “agnotology” — only serves to aid the lobbyists working on behalf of the Banks and Investment houses to maintain the status quo.
All is well, nothing to see here, move along.
Well, its time to put up or shut up: I hereby challenge any of those who believe the CRA is at prime fault in the housing boom and collapse, and economic morass we are in to a debate. The question for debate: “Is the CRA significantly to blame for the credit crisis?”
A mutually agreed upon time and place, outcome determined by a fair jury, for any dollar amount between $10,000 up to $100,000 dollars (i.e., for more than just bragging rights).
The nonsense rhetoric blogged about has no cost to those pushing these discredited memes — but interferes in the societal attempts to understand how these problems arose and then how to fix them. Perhaps this will help clarify the issue by forcing those with partisan agendas to stand behind their claims.
Which of the many “CRA was a major factor” proponents have the courage of their conviction to step forward?
UPDATE 2: June 29, 2009 1:15 pm
John Carney, you seem to be missing the point of this (apparently this is a theme with you) of what PUT UP OR SHUT UP means.
My goal in clarifying the actual causes of the crisis is SO THAT THEY CAN BE FIXED SO IT DOESN’T HAPPEN AGAIN. It is not to support a now discredited ideological belief system or try to rescue the tainted legacy of Phil Gramm. It is not because I want to engage in polemicals or rhetorical debate — it is because this is important stuff.
Any well educated jackass can engage in abstract rhetorical debate. I wanted someone who lives and dies financially on the strength of their intellectual world view.
In other words, you must be THIS TALL to go on this ride. Rather than dismiss your inability to meet the requirements out of hand, let’s start this way: I put my list of top 30 causes of the crisis here; Why don’t we start by you putting out your list of causes at Business Insider?
UPDATE: June 29, 2009 11:41 am
As much as I would like to take a $100k from his backer, the phrase isn’t “raise a $100k from some putz and debate me.”
If Carney can come up with something of comparable (non-monetary) value, we can discuss . . .