(ht

)

Advertisement

Following

New York Times

financial reporter Edmund Andrews'

last week that he was nearing foreclosure.

The Atlantic Monthly

.

Turns out Andrews left out a couple of salient facts from his story of mad mortgage-his wife's two bankruptcies:

This is not normal behavior, nor is it routine in the bankruptcy court. Most people in bankruptcy have little income.

The Atlantic's

Megan McArdle got a scoop that should embarrass both Andrews and the

Times

. But that's not the point. As she writes:

This narrative arc-it's all the greedy bankers' fault for entrapping "struggling homeowners"-has dominated the coverage of the mortgage crisis, despite mounting evidence of strategic bankruptcies and outright fraud. It's not that the financial services industry in general, and the mortgage machine specifically, were (and are) not massively corrupt. The point is, they're not the only ones.

McArdle says she's tried to get Andrews to talk about what happened, and why he left it out of his book, but he did not return calls.

Advertisement
Advertisement
Advertisement