“WE’RE NOT AWARE of a single case so far of a substantive error,” The Journal’s editorial said. “Out of tens of thousands of potentially affected borrowers, we’re still waiting for the first victim claiming that he was current on his mortgage when the bank seized the home.” The fund manager Barry Ritholtz, who writes the blog The Big Picture, and Naked Capitalism’s Yves Smith, whose chronicle of the foreclosure jumble has been encyclopedic, furious and convincing, would disagree. They’ve linked to stories in papers like the Sarasota Herald-Tribune and The South Florida Sun Sentinel about banks mistakenly taking over homes that hadn’t been foreclosed on. Not only was Fort Lauderdale’s Jason Grodensky not late on the payments on the house that Bank of American foreclosed on, but he didn’t even have a mortgage.
“Thanks for the query,” The Journal’s editorial page editor said, responding to an interview request, “but I think I’ll let the editorial speak for itself.”
That’s how national journalism works these days. You imply something that isn’t true and when you’re corrected, you let that false implication speak for itself.
Thank FSM Murdoch’s going to bury this toilet paper factory within a few years.