R.E. Bloggers Under Attack

Terrific post over at Blown Mortgage on a trend worth watching: Real estate blogs are being sued by the companies they cover.  The blog Housing Doom has a similar report here.

"Mortgage Lender Implode-O-Meter is being sued by Loan Center of California for alleged business injuries caused by the reporting of the site."  Here's Implode-O-Meter's coverage.

From Blown Mortgage: "The complaint is in response to an e-mail posted on the Mortgage Lender Implode-O-Meter website on April 18, 2007. LCC alleges that as a result of that posting, nearly $4 million of funding was withdrawn by Credit Suisse and Washington Mutual (along with a variety of other business injuries).... Implode-O-Meter’s response is as follows: 'It seems clear to us that the intent here is to injure the Mortgage Lender Implode-O-Meter — perhaps even to “shut us down.” We believe we are without blame and at no fault in this incident."

From Blown Mortgage: "Other bloggers have faced similar pressure as well. Pamela Crowley, operator of www.mortgagefraudwatchlist.org was sued by eAppraiseIT for alledgely defaming the company in reporting dubious appraisal and property valuation tactics."

Thoughts? Comments? Insights?
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Comments

[sunsetbeachguy]

The evil empire strikes back.

As Barry Ritholz said today.

When the facts aren't on your side, argue the law.

When the law isn't on your side, argue the facts.

When the facts and the law aren't on your side, call the other party names (or sue).

[Nathan J]

This is a disturbing trend occurring in various realms of the blogosphere. The glory of blogs is their ability to empower individuals with limited resources. Larger corporations with substantial resources at their disposal may recognize that they often have weak legal backing for their claims, but the threat of litigation is quite possibly enough to keep bloggers "in line".

I personally think it is a shameless attack on our First Amendment rights.

[Mr Income Stream]

Haven't you heard? Vampires don't like light...? It has proven to be deadly.

[muirgeo]

Do you want to follow this argument through? If so we can keep on it here or we can go to my blog . Either way we can go into great detail to define the issue. I'm willing if you are.

Yes, I would like to follow it through but I prefer to do this here where a much larger audience can watch you twist in the wind while answering questions and explaining yourself. If you're actually going to engage in deep discussion for once, I think that everyone who has had to endure your behavior and your trolling should have the proper forum to do so -- the forum that you enjoy disrupting.

You may start by answering my posted comment properly. I ask two more than just rhetrical questions. I ask you to explain what the banking CEOs and the hedge fund manager had to do with this.

I also tasked you with identifying the crooks. And I asked you to tell me exactly who it was denying regultory oversight in mortgage lending.

Those are my terms. Address those and I'd be more than happy to continue the discussion with you, and even answer your post to the best of my ability. Be warned, though, dear Doctor, I am a ding dong that doesn't grasp figuartive speech so well, so you'll have to check your canned media-like expressions, talking points, and hyperbole at the door.

Okay, now; let's discuss, Doctor [ball. your court. go!]
Posted by: LowcountryJoe | Oct 16, 2008 5:50:59 AM