Monday, October 1, 2012

Capturing A Thought

A comment that I posted at Naked Capitalism that may not make it past the filter:

We get it. Our former Great White Hope is now consigned to forever being just another Great White Hype.
So when do we stop talking about Schneiderman et al.? Why do he and other proven frauds deserve our continued consideration?
Could it be that we in the “reality-based community” merely follow the reality that is created for us? Could it be that we are irrelevant so long as that is all we do?
I fully understand that the kind of commentary we see above is what drives traffic to your site, that confirming what people already believe they know is easy money. While I am not accusing you of consciously “selling out”, I think your desire to run a “successful” web site has compromised your objectivity. Self interest is always unenlightened, no matter how hard we try to make it otherwise.
Being a progressive inherently means perpetuating today’s fraud with the hope of making it less fraudulent tomorrow. Perhaps what we need for real progress is subversives, not progressives.
Embrace your inner subversive.
Read more at 

UPDATE 1:  Yves' response:

Yves Smith says:October 2, 2012 at 1:50 am
With all due respect, you can go to hell.
I am sleep deprived while out of town at a conference getting this post out, which meant reading the filing and comparing it to past filings on relevant cases. This was substantive work that you just pissed on. I’ve been on the mortgage and securitzation beat consistently, and this is separately of interest because the Obama fans ARE treating this like the real deal and are putting out e-mails touting this case as significant.
And this is one of the major news stories tonight, which the WSJ regarded as important enough to send out as a news alert and the NY Times has as its #2 story on its business page. But no, I’m covering it not because it is one of the important news items tonight and the one that is logical for me to write about given my past coverage. Instead you use it as an excuse to attack me personally, which calls into question what your motives are, as opposed to mine.
Read more at 

 UPDATE 2: My Response to Yves (I'm assuming this will be censored, so I'm producing what I wrote before submission):

With all due respect, Yves, you are already there.  And I get that because I am there, too.
Take a step back and think on what I've said in the comment to which you responded as well as in the comment that you censored (it is your site, so I'm not complaining).
Being sleep deprived is no excuse for consciously perpetuating a system you seem to believe is wrong.  You are not sleep deprived every moment of every single day you blog.
The fact that the Schneiderman case is "major news" does not absolve you of anything that I have said.  Yes, major news drives traffic to your site, but does it make the subject matter at all relevant?  No.
You're covering the "major news" because doing so makes YOU relevant, not because it is actually major news.  And you hope by being relevant, you can make a difference.  Unfortunately, you're just putting lipstick on a pig.  And I feel for you.  I really do.  I think you are trying to fight the good fight.  I also think you are fooling yourself, and that saddens me.  No matter what you believe, I think very highly of you, and I only criticize you because I believe you can do better.
Be subversive, not progressive.