Poor Us: The Great Depression 2.0

February 20, 2009

Reporters didn’t miss the meltdown; they read all about it

Filed under: Uncategorized, Who knew? — Tags: , , , , — debacled @ 7:17 pm

How did the business press miss the most important  story of their generation?  Who knows? But they weren’t the only ones. The then President of the United States stuck to his story that “the fundamentals of the economy were strong,”  his once vice president  recently commiserated with reporters that,  “I don’t think anybody saw it coming,” and even former Fed Chairman Alan Greenspan claims he had no idea that Wall Street was too greedy for our own good.  What were the poor reporters supposed to do if even their best sources didn’t know what was up?

Nonetheless, last month a former Wall Street reporter took his colleagues to task in a piece for Mother Jones How Could 9000 Business Reporters Blow It? Then Diane Tucker at Huffington Post answered with How 9,000 Business Reporters Blew the Mother of All Meltdowns.  So what were the watchdogs of democracy doing while they were supposed to be minding our business?  Maybe they were  reading:

We Didn't See It Coming


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