From today’s Boston Globe Editorial “Subprime scourge”:
Mayor Thomas Menino of Boston testified that the Ameriquest, Fremont, Countrywide, New Century and Option One mortgage companies dominate the field of foreclosures in the city. Each belongs at the table when Frank convenes his meeting at the Boston Fed.
Do you suppose our politicians could find someone who was well connected with Ameriquest who could deliver this message?
Do you suppose the Boston Globe might report the fact if a former director of Ameriquest was sitting in the same room and testifying at the same hearing with Menino?
No. That fact was not reported.
The Globe is suddenly quite squeamish to mention that Massachusetts Governor Deval Patrick received $360,000 in 2005 for serving as a director of Ameriquest in his own words to “deal with the allegations of predatory lending and to put in place policies that will protect low-income consumers.”
This recent gubernatorial history has apparently become a new unmentionable in the Globe. News stories covering Massachusetts subprime lending in yesterday’s and today’s Globe did not mention it. Nor does the above editorial.