Jun
14
2010

Thomas Friedman and 'Our' Failures

New York Times columnist Tom Friedman argued yesterday (6/13/10) that, when it comes down to it,we're all to blame for the BP disaster. And that's not all we're to blame for:

We cannot fix what ails America unless we look honestly at our own roles in creating our own problems. We–both parties–created an awful set of incentives that encouraged our best students to go to Wall Street to create crazy financial instruments instead of to Silicon Valley to create new products that improve people's lives. We–both parties–created massive tax incentives and cheap money to make home mortgages available to people who really didn't have the means to sustain them. And we–both parties–sent BP out in the gulf to get us as much oil as possible at the cheapest price. (Of course, we expected them to take care, but when you're drilling for oil beneath 5,000 feet of water, stuff happens.)

So apparently "we" are all in "both parties," and "we" participated in some sort of referendum that endorsed certain Wall Street practices and/or encouraged offshore drilling without meaningful oversight.

It's also telling that this far into the crisis Tom Friedman still believes that the housing bubble was mainly a problem of selling houses to poor people.

But let's not sugarcoat things. After all, maybe "we" decided to give him a newspaper column, too.

About Peter Hart

Activism Director and and Co-producer of CounterSpinPeter Hart is the activism director at FAIR. He writes for FAIR's magazine Extra! and is also a co-host and producer of FAIR's syndicated radio show CounterSpin. He is the author of The Oh Really? Factor: Unspinning Fox News Channel's Bill O'Reilly (Seven Stories Press, 2003). Hart has been interviewed by a number of media outlets, including NBC Nightly News, Fox News Channel's O'Reilly Factor, the Los Angeles Times, Newsday and the Associated Press. He has also appeared on Showtime and in the movie Outfoxed. Follow Peter on Twitter at @peterfhart.