Weigh In: What Did the Media Miss?

How did the medial fail us? Let me count the ways! You can start with the fact that the media didn't just miss but completely ignored the fact that this was entirely the fault of the Democrats, that it began with them and will end with them, by forcing lending institutions to lend money to people who had no means to repay their loans. They missed the fact that nationalizing an institution like a bank is one of the goals of socialism. They missed the fact that driving down the prime lending rate made higher risk loans more attractive to higher risk applicants, but also reduced the savings rate, forcing middle income investors into riskier financial products, like mutual funds, that are not insured. And now the fed has reduced the prime lending rate even lower. Good move. Now our savings are totally worthless. They missed informing people that that difference between savings and lending rates is how the banks make money. But, they make money lending other people the depositors' money and that depositors' should have a right to expect some interest on their savings. Otherwise, they might as well stuff the money in a mattress. They missed the fact that the govt is just a poor businessperson, witness the Social Security debacle, which dwarfs this one. They missed pointing out that socialists like Obama do not want people earning interest on their money, and so are just as much in cohoots with the banks as any Conservative lobbyist. They missed the fact that the Republicans should have (proverbially) cut off their right hands rather than sign that rescue bill, especially after it was laden with pork. Politically, it was a foolish move; they allowed the Dems to put them over a barrel - a pork barrel. It was political blackmail. Don't sign and you look like you don't care. Sign as is, and you give them Dems everything they want. Ask for compromises, and you compromise yourself into buying pork. They missed informing the public that socialism is poison to a free market society. It's an economic coffin that will nail the bottom half into hopelessness and the top half into economic slavery. One half of the population will be carrying the deadweight of the other half - and their kids. I could go on and on. You can chew on this piece of "pork" for the time being....

None of the media discussed the legal aspect of the bailout. If there was any constitutional laws broken. If it's constitutional for the fed chairman to have so much power.

The media has missed it all. They are so set on electing the likes of Obama into the White House that they cannot remember who started this mess and who it is hurting. Folks like you and me. The wealthy commucations moguls want the Democrats inso they can get their unannounced tax breaks. Don't let Obama kid you, someone has to pay for his ideas and it will not be the rich like himself or his friends that own the communication networks in this country. We are now paying for those mansions and spa trips, the CEOS loved and enjoyed. The media has missed that this mess began with Carter and has continued throughout, with increased momentun during the Clinton administration. The media has not heard the storys about home owners that would like to keep their home. Not every bad loan was a sub-prime loan given to a low credit score. Admittedly their are con-artists in every profession and may any man that has never been taken, please STAND UP and be noticed. Their are Doctors and lawyers in this mess, it was a scam and Fannie and Freddie and the Democrat congress were the leaders of the gang. Our media is the going to be the second reason this country fails and falls into the hand of terrorists. You are embarassments to the human race, much less your profession. The first reason will be the election of Obama into the White House. The media needs to remind the leaders of this country who is hurting and stop trying to pick our president. YOU PEOPLE NEED TO LEARN HOW TO TELL THE TRUTH AND DO IT FAIRLY.

Major newscasts (ABC CBS NBC CNN)are continuing to broadcast entertainment for public NOT REPORTING NEWS. If true reporting was done on a continued bases believe me this issue would have been uncovered.

I commend to your attention the previous comment by Kevin M -- I think he hit it on the head: "Mainstream media has really missed the stories of the real cause of the mortgage mess. They haven’t traced back the Democratic pressures on CRA, Acorn and the giveaway money to non quailified purchasers demanded by the Barack Obamas, Barnie Franks and Chris Dodds of government. Instead they want to place all the blame on the Republicans who fought them all the way." Finally, when you really get the message, don't just editorialize once on the inside pages -- take a cue from Bill O'Reilly and SHOUT IT LOUDLY FROM THE ROOFTOPS! Do an interview like he did with Barney Frank. That was so well deserved.

Let's See what did the media miss. The bought and paid for media arms of the Liberal Democrat Betrayers of our Nation miss; The Truth , the whole Truth and nothing but the Truth. What's sicker is 50% of America lap it up without a question and the notion that these bought and paid for liars are neutral journalist ,What a joke. When we ask who is accountable and needs to be in jail . The deliberate misinformation of the American public should be a hanging offense.

The media missed researching and reporting on the root cause and those responsible, although the liberal media would have to report on some of their darlings like Barney "Franco".

Despite Ike and the shortages of gasoline in the southeast oil futures have continued to drop. Furthermore, the only global region untouched by the lack of liquidity in their financial markets is the Arabian peninsula. Talk about being held hostage; how come no one is complaining about how inflation is being manipulated by the Oil Czars. While where I live our public schools langour, some Houston area public schools can afford to build indoor stadiums twice as big as professional baseball stadiums with local tax revenues. Oil exec kids get state-of-the-art classrooms and mine get 50 year patch-em-up ones; don't you see this is part of the anger building up among the majority of working, middle-class families. Personally, oil speculation and futures is just another Republican party protected get rich scheme that is going to crash like a cement kite.

If I were in charge of the media, since it's all about "scooping the other guy", I would be working on scenarios of what is next. I would have prominent economists that were predicting this calamity several years ago (Jim Rogers, Jim Sinclair, Monty Guild, et all) to layout what they forsee happening instead of the usual talking heads. In my internet educated pea brain here is what I forsee. Fast forward to six months from now, the Government does what they said they will do and scoop up most of the foreclosed homes & buildings with the idea that the housing market will stabilize. Congratulations US Taxpayer, you now own a bunch of residential and commerical real estate. The only problem is the value keeps declining because no one can sell because the banks still aren't lending. Wall Street has tanked to the 6000 mark +/-. The government has had to revert to the gold standard again because any US paper is pretty much not worth the paper it is written on and the national debt is growing exponentially. Everyone is saying "why in the world did those dumb bunnies in Washington pass that $805B plan?" and "Why did they say adios to Lehman. Didn't they know the banks would know they have no 'bailout recourse'?". The unemployment rate is north of 20% with tent cities everywhere. The banks have access to all this cheap Government money but are still paranoid to hand out any loans to even well qualified applicants. They start drawing on said cheap Government loans, because their revenues are waning with no income. Uncle Sam gives them one scoop but tells them they must loan the money or they will be taken over. Things then go from bad to worse. Soon we will have one bank, the US Federal Reserve Bank of America (a marriage of BofA & the US Fed). Wecome to Socialism/Communism. My friends it's not a pretty picture and I bet I am not too far off.

The Media has willfully missed those responsible for the "meltdown" which was caused by the financing homes for those who did not qualify. Chiefly the Democrats (Commucrats) are at fault. Their are Republicans that need to be ousted as well. Send them packin!!

The Media has willfully missed those responsible for the "meltdown" which was caused by the financing of homes for those who did not qualify. Chiefly the Democrats (Commucrats) are at fault. There are Republicans that need to be ousted as well. Send them packin!!

NEWSFLASH!!! Finally someone (a Sheriff in Cook County, Illinois - CHICAGO) has ceased evictions of renters who have receipts showing payments to owners WHO DIDN'T PAY THE MORTGAGE! WE NEED MORE PEOPLE LIKE THIS!

The entire way these issues are framed up is what the media is missing. I am an independent. I have no faith in the Republican or Democratic parties anymore. I tend to be a conservative thinker, but neither of these parties are serving my family's or my countryman's best interest anymore. The majority of the coverage, that I see, is from partisan pundits casting blame. They add NOTHING to improving the situation. Our politics has devolved into a sad sporting event where spin is used to score party points and the scoreboards are polls we are inundated with. The people we have in important decision making positions are generally best at being a party spokes model. What we need are Americas best and brightest to bring real world practical experience to bear on the important decisions facing our country at this critical hour. We are getting Hollywood drama. Put a "spending freeze" on pundits from both parties in all media. Media is supposed to play the role as guardian of free speech and holding our elected officials accountable. Media has lost its way. They are now part of the game and choosing sides. Because of this spin, Americans have lost the ability to really hold their elected officials accountable, and we are paying a terrible price for it. Somebody out there call an end to this game for the love of God. Real people are being chewed up by this madness. It has certainly been entertaining, but the time has come to sober up and answer The Call as so many of our forefathers have done in the past. I really don't know if I can stomach one more partisan pundit blathering on about the talking points that were emailed to them that morning. Honestly ask yourself a question. Has anyone in the Federal Government really fixed anything important to you lately? Has anyone fallen short? The only thing we all seem to be in agreement on is the other guy is definitely to blame. We are "spinning" ourselves into oblivion.

Re: Danny (a Patriot) post: "3. I would love to hear more on how (no money down) home loans were given to illegal immmigrants with only a tax identification numbers. Apparently, some couldn’t make a single payment let alone 30 years of payments." ****************************************************** Right - interview some local lenders and realtors across the country - ask them how they see their practices of these high risk loans, now that the economy has tanked. I'm just saying don't let this segment of the "problem" get away green-handed!! If they are forced to admit their mistakes, maybe future home buyers will be more careful when they're offered a deal that seems too good to be true!! If Congress wants to "claw" back from the huge companies, why not the little soldiers they had on the battlefield originating these loans and selling the properties, too?? I'd love to know the numbers on commissions by local real estate brokers, realtors and loan originators, title companies, etc............ Not to pick on these two entities - if there are other segments of the industry involved, make that known, too. I guess what I'm saying is that this global crisis goes all the way to main street, but so does the responsibility. It wasn't just the big guys making these deals, the local folks made the deals that made the big guys' deals possible!!

How about the return to socialism which is the agenda that O'Bama is pushing with (1) Biden's stunning admission that they favor a re-distribution of wealth (never mind that it isn't his money to re-distribute), (2) O'Bama last night saying that health care is every citizen's right (regardless of whether they have a job or are legal citizens--I suppose that's one more burden productive American citizens will have to bear--the cost of healthcare for everyone?), and (3) now we have the video on You Tube of young men dressed in camaflouge marching in step spouting rhetoric about O'Bama's medical plans and SEPs that they were obviously spoon fed (I got chills watching this video--can anyone say "Hitler's Youth?"). Socialism doesn't work, socialized medicine doesn't work. As Lord Acton said, "Absolute power corrupts absolutely" and socialism is just one step away from communism--do we really want the government distributing ALL of our wealth (not just the portion we earn from Jan-May which it already takes to pay our income taxes). David Ayers, who incredibly enough is reforming the education system in Chicago, is pushing a socialist agenda and he found his intern in O'Bama. Together they're pulling the wool over a bunch of ignorant individuals' eyes. Where's THAT story in the news?

Just listening to Paulson. Just what we need, another federal agency staffed by unemployed wallstreet brokers who are going to meet with each others to come up with proposals on how to spend the money we were too stupid to spend for ourselves. I hope the media gives us a list of all the people Paulson employes, where they came from and how much "we" are paying them.

What has been missed is the high oil prices that really set all this mess in motion, and started putting the crunch on us. The other thing is a connection between the rise of Obama in popularity and the fear in the business comunity. As small business owners my husband and I are resigned to Obama's getting elected and planning for the taxes and the health insurance requirements that we will not be able to afford. We will be cutting out employees and will be down sizing. We have difficulty getting people to pay for services now if we have to raise prices to cover new cost we will have even more problems. To many people now, buying what they can't afford, it will only get worse.

Comment by Dan "I believe one story that is not being told is how millions of Americans all across this country are putting their financial houses in order. They are learning about money - how to budget, how to plan and save for future purchases, how to operate with cash and cut-up credit cards, how to invest for their children’s education, how to pay off their mortgage, why to rent if they can’t afford a mortgage, how to scrimp and save, how to repair and reuse, how to bargain shop, buy groceries and cook at home, etc. These are all great and wonderful things long-term" Why the hell didn't they keep their financial house in order? They are just now learning how to budget? Where have they been?

There are obvious things that are taking place in the financial markets across the board. In short, the main thing that I see is the media reporting, what appears to be panic. People are becoming scared because they are told to be scared. Not to deminish the seriousness of the problem but if people are scared into being apart of the problem, hence the escalation. There is significant quantifiable data out side of the immediately available media information that if presented properly would create a pause with people instead of feeding into the cause. Just a thought!

I am not certain that Fox or any other network can make statements like this but it is really up to the investors now and we need to calm down and hold the line. If the whole market continues to drop, that will mean more losses for everyone involved. Despite what the pundits have to say, the only way the stock market can stabilize is if the public chooses to buy and not engage in panic selling. It's every man for himself and we can save the situation by pulling together and buying stock across the board and not engaging in a massive sell off.

With a few notable exceptions the media like the rest of our institutions (Wall Street, Congress, Regulatory Agencies, Education) is incompetent. Only the U.S. Military seems to be capable and competent, and our politicans are doing their best to screw that up. The media has missed everything! We need to return to a system of merit, accomplishment, talent, and competency. We need to get rid of the "entitlement mentality" that exists today. Competency Counts! I don't care what color or gender you are, just know your job and do it well. That fact should be the only criterion for advancement and position. It should not be connections, not affirmative action, not who your mentor is, not voter block representation, or anything else, simply merit and character.

Lenders usually required mortgages that did not have 20% equity (borrowed more than 80% of the value of the home) to have mortgage insurance (costing the borrower an average $50 to $100 per month). This was to protect the lender in the event of the default of the borrower. No one has even mentioned this. This was especially true of the so-called "sub-prime" loans. What happened to all that insurance?

The biggest issue here is the uncertainty surrounding the CDO/MBS assets. It has been since Aug 07 and there isn't widely knowledge of the exposure that any of these banks/investments houses have. The media should have aggressively pursued the corporate suits to obtain estimates of the exposure, I think they used to call investigative reporting. Sunlight is the best disinfectant, and the media has the biggest spotlight. Instead, we have a long stream of talking heads who collectively know-next-to-nothing.

What did they miss? That's obvious, they missed looking into who Obama is and what he believes from the start, so now he's learned what not to say to the public. That's why he has so few specifics on his policies. McCain - Palin -- a Democrat and a Republican on one ticket, who better to help congress make the hard choices ahead. Obama - Biden -- a socialist and a liberal, who better to let Nancy Peloci run this country?

The American people do not trust Wall Street because we see the way prices can be manipulated by mere conjecture and rumor. The American people do not trust Washington because we see that even though we raise our voices against a bailout we will be ignored and the media will be trusted to stir up fear so we go along like brides at a shotgun wedding. The American people do not trust the media because most outlets gave little coverage to concerns raised regarding Fannie and Freddie other than casting suspicion on the people crying "Foul." The American people do not trust banks because these entities that Lord over the everyday life of the average American sold us a bill of goods that even they cannot even afford. What should the media be talking about now? The big story should be why this country ever started basing economic growth on spending that involved borrowing. The big story should be why are we trying to recreate a false sense of how well we are doing by making credit easy to get again? Let's face it. These businesses that need credit to cover expenses until their seasonal work gets going again were trained to go about it backward. Business owners were trained to borrow first payoff later. They were encouraged to handle their businesses that way. Whatever happened to budgeting to make sure our profits in the spring cover our expenses in the winter? Last year's loss or gain should determine this years spending or cutting. Maybe we need to start basing how well this country is doing economically by measuring the amount of debt our citizens are able to pay off and not by how much they are able to take on. It was listening to the experts, that we assumed knew better than we did, that got us in to this mess. STOP giving so much power to all these EXPERTS America and let's start trusting our own common sense again.

The only thing the media has not reported is this: "We're still here. Hundreds of millions of us are not seeking loans, still make our mortgage payments and work all day. There is a slim chance the U.S.A. will continue in existance." I suppose that's what the media missed. But I happened to catch it, so I bought stock today. P.S. Don't let the word out just yet. Thanks.

I was up watching BBC late one night last week and was shocked to see all of the footage of the protests going on over the bailout bill. I am guessing our networks didn't want to show that here?? They also interviewed several Americans getting their opinion of the bill. Kind of ironic that I had to get that perspective from BBC instead of our news channels here. Even though this bailout was sold to us as "a benefit for mainstreet" very little coverage has been given to mainstreet and how this crisis affects them. I will say though, that Fox does seem to be the most unbiased network and the channel I watch most. Obama has gotten the rest of the networks wrapped around his finger. Keep up the good work and don't forget about us little guys out there!

The media missed the story of the people who physically demonstrated on Wall Street and Capitol Hill against the bailout. The media missed the story of how senators and house representatives stated that they received all of those calls from constituents wanting the bailout, when in fact almost NO ONE called them supporting the bailout. The media missed the story of how General Electric desparately needed the bail out, and its NBC subsidiaries kept pushing the bailout down the throats of its viewers.

Baby Boomers are angry.. everyone is angry. The media reports our debt and lack of saving but in the last decade while thinking WE were going to be better off than our parents, we have come to realize that we're not. Our parents had very modest incomes and could save, help pay for their kids local college costs, reasonable home costs , eventually have a paid for home, reasonable taxes, affordable cars, a modest pension. While WE are allowed by the government(because we are middle class ) to Borrow the entire cost of a child's college. What was saved was not nearly enough and the kids have loans too. We have less in our paychecks because we fund our own pensions, a bigger and bigger share of healthcare, high daily living expenses....gas...food...heat...and no raises to make up for these deficits. Our incomes have not kept pace. Not everyone was buying lattes.........we have all been cutting back for years just to keep our jobs while Congress thinks outsourcing and providing us with cheap goods ( in price and especially quality) solves the problem. We are tired of treading water and we can't afford to have all these burdens AND see our 401k's evaporate for the third time (the 80's..2000 and now). Congress sent a signal to American companies that they did not have a responsibility to their employees. What kind of country will we have if we don't invest in the workers..... the backbone of society. We are seeing what greed and lack of character produces. I think the media missed for years just how angry we have been.

Just give it to us the American people straight. We get enough run around from our great leaders in Washington. I think there should have been more coverage of other ideas not just this bail out.

Pelosi says $150B economic stimulus plan needed DENVER - House Speaker Nancy Pelosi said Wednesday that a $150 billion economic stimulus plan is needed now because of the faltering economy and she may call the House into session after the election to pass it. WTF!!!

Pelosi says $150B economic stimulus plan needed DENVER - House Speaker Nancy Pelosi said Wednesday that a $150 billion economic stimulus plan is needed now because of the faltering economy and she may call the House into session after the election to pass it. God Bless the new American's...Eileen and Ben Dover

The media missed what the pain everyone is going to experience. The pain is jobs. Not one of the politicians, economic wizards, nor the media want or will talk about double digit unemployment. You can refinance as much as you want, but if you don't have have job it's a moot point. Jobs creation needs to be the number one priority for everyone. People working keep things running by paying there taxes, having enough for food and shelter, keeping themselves healthier. This is the biggest part NO one wants to report.