Man, Joe Mansueto must have really rattled the Wildmons, American Family Association’s head henchmen, when he responded by e-mail to all the AFA drones who sent him an e-mail through the AFA site criticizing his company for not taking an ad from Faith Financial, as we reported earlier. See, most organizations who are slimed by the Wildmons choose to meet with them privately. Mansueto, chair and CEO of Morningside, chose to take the fight to the public.

Several hours later, the Wildmons are in full spin mode, quoting Faith Financial’s version of what happened as a way to deflect criticism:

Faith Financial attempted to amplify its message of values-based investing on a national platform. To that end, it worked with a global ad agency named Come And Stay which suggested using Morningstar.com, one of the largest and most popular investor information resources in the industry. The ad agent worked with Faith Financial to craft an ad that met both the criteria of Faith Financial and Morningstar then submitted an offer/invoice (what is generally considered a contract) to CEO Stephen Bolt of Faith Financial who signed it and sent it back to be presented along with the 80 word text of the ad to Morningstar. Much to the surprise of both the ad agent and Faith Financial, the ad was rejected by Morningstar. Faith Financial Planners was told by the ad agent after he had consulted with Morningstar that ‘Unless you change the message completely and eliminate the Christian undertones…’ the ad will not be accepted.

The ad agent submitted an offer/invoice to CEO Stephen Bolt of Faith Financial who signed it and sent it back to be presented along with the 80 word text of the ad to Morningstar. From Faith Financial’s perspective, the offer/invoice was a binding agreement as is stated in the contract, but Faith Financial recognizes that Morningstar.com never accepted Faith Financial’s ad and thus, Morningstar never signed an agreement with Faith Financial.

Anybody who has ever dealt with advertising knows that signing an insertion order is a contract between the advertiser and the advertising agency, not the publisher. That’s why there’s an agency percentage — for the work and the financial risk. So, there was never a contract between FF and Morningstar — but that’s what Tim Wildmon said. So who’s lying? I’d bet on both Faith Financial and Wildmon. The above was offered by Wildmon by way of explanation.

He then accuses Morningstar of anti-Christian bias while not offering one iota of justification other than to say that because Morningstar rejected the ad, then it is de facto biased. Oh, except for this:

Based on the fact that Morningstar takes advertisements for liberal social interest groups, it still appears to AFA that the Faith Financial ad was rejected due to it’s [sic] Christian content.

I went to the Morningstar site and I had a devil of a time finding an advertisement. And here’s where you can find the advert for Faith Financial.

I went to the Faith Financial Web site and to tell you the truth it looks to me like some kind of Christian multilevel marketing pyramid scheme. Judge for yourself by going here.

I could see how Morningstar, which is one of the largest financial sites in the country that does real analysis and provides real content regarding financial matters might be put off by Faith Financial, which looks kind of questionable.

And last time I checked it is within the rights of a private business to choose to do or refuse to do business with whomever it desires. And if there are consequences to that decision, then so be it. People are free to boycott and demonstrate any business that clearly demonstrates bias, but refusing to play ball with a bunch of flaky Christian scam artists is not against the law.

Unfortunately, neither is lying — with one hand on the Bible — to people to get them to follow your misguided agenda.