LAT's Gosselin -- News Analysis

LAT "staff writer" Peter Gosselin argues today in a column labeled "News Analysis" that Democrats have all the arguments on their side in dealing with the so-called credit crunch. Gosselin says Fannie Mae and Freddie Mac should be unleashed and Congress ought to pass laws that would regulate mortgage lending. He quotes Senator Kent Conrad as saying St. Louis Federal Reserve Bank President William Poole has "got to go." You would think a senator would know that the Federal Reserve was set up the way it is to avoid political pressure. Poole doesn't report to Conrad or any other senator or congressperson.

Gosselin points out that polls show Americans think the economy is getting worse. They've thought that for 5 years and have been wrong every year because that's what the news media tell them. Gosselin could write an article pointing out how well the economy has done and is doing. But that wouldn't fit his agenda or the LAT's. Instead, he suggests that Democrats are lucky that Americans are so poorly informed.