This stinks. I've always enjoyed Davidson's Planet Money and appearances on Marketplace and This American Life. But it really does look like his reporting has been corrupted from minute one by being a paid shill for the banks he was reporting on.
Oh well. I'm sure Fox will hire him.
Has NPR's Adam Davidson Betrayed His Listeners? Serious Conflict of Interest Issues Exposed | Alternet
Adam Davidson is the co-creator and host of the popular economic news radio program Planet Money. On air, Davidson plays the role of an earnest, brainy reporter who’s doing his best to make sense of the complicated, jargon-filled world of finance to report business news in a way that NPR listeners can understand. However, behind the dweeby, faux-naive facade Adam Davidson presents to his listeners, is a shrewd propagandist with a long, consistent history of shilling for powerful and destructive interests—and failing to disclose his financial ties to the companies and industries he reports on.
Over the years, Davidson has boosted for the Iraq War and whitewashed the occupation of Iraq, praised sweatshop labor and "experimenting on the poor," attacked the idea of regulating Wall Street, parroted libertarian propaganda about the government’s inability to directly create jobs, argued for "squeezing the middle class," and shamelessly fawned over Wall Street for allegedly blessing Americans with "just about anything that makes you happy." (Read Adam Davidson's full S.H.A.M.E. profile.)
Adam Davidson gained national media recognition as an on-air personality in 2008, after co-producing an episode for This American Life called "The Giant Pool of Money" about the implosion of subprime lending. Although Davidson's segment was praised for making the murky world of finance easier to understand, his framing of the subprime housing debacle served another purpose: It let Wall Street off the hook for its role in rampant criminal mortgage fraud and predatory lending. Among the show's fans was Treasury Secretary and former New York Federal Reserve Bank chief Timothy Geithner: "Yeah, they did a good job."
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To understand why Davidson's arrangement with Ally Bank is so odious, a little background is needed. Ally Bank is a subsidiary of Ally Financial, a giant financial services company formerly known as GMAC. There's a good reason why GMAC would have wanted to change its name to "Ally Financial" after the financial collapse: The bank is one of the biggest mortgage servicers in the country, and has been one of the very worst offenders in foreclosure fraud and in the very same subprime fraud that Davidson whitewashed as a "blameless" phenomenon. GMAC deserves far more blame—and jail time—than any of the subprime borrowers it fleeced and ruined. Since GMAC collapsed in late 2008, it has received more than $17 billion taxpayer bailout funds in a series of bailouts. As of August 1, 2012, 74% of Ally Financial was still owned by the U.S. Government.
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