Forbes' Probe Gets It Wrong
March 12, 2008
After a misleading article was published in Forbes Magazine in March 2008 (Subprime's Mr. Clean), The Columbia Journalism Review took it upon themselves to examine the claims in the article and found that the Forbes "probe" of CRL's CEO Martin Eakes couldn't find any facts, not even one, that even remotely qualified as "mud."
As The Columbia Journalism Review points out, there appeared to be a coordinated effort between Forbes Magazine and the Astroturf group, the Consumer Right League: “This ersatz “CRL” (same initials; hmm) popped up like a Jack-in-the-box just as the Forbes story ran, and appears to exist for no other purpose than to attack Eakes and promote the payday lending industry.”
As more baseless and redundant attacks against CRL and its affiliate, Self-Help, continue to clog the airwaves, The Columbia Journalism Review article reminds us of the lengths interests groups would go to in order to distract the public from the real issues at hand.