Lauding ‘Those Who Chose to Look’ at Economic Crisis

By now it’s old news to any reasonably critical observer that corporate outlets’ “business reporters failed to see the crisis in the mortgage and credit markets as it brewed and bubbled,” as former City Limits editor Alyssa Katz puts it (, 9/14/09), but Katz also gives props to others who noticed how “evidence of its unsustainability was plain to see for those who chose to look”: The fact is, and as immodest as it may seem to say, independents were repeatedly ahead of the curve on covering the mortgage and real estate bubble and in connecting the dots between vital […]


Ben Stein and NYT ‘Get Really Seriously Wrong’

Stating quite succinctly how “there is an ongoing issue about whether global warming deniers should be treated seriously by the media, given that they have about as much scientific support for their position as the flat-Earth crew,” economist Dean Baker (Beat the Press, 7/11/09) notes how the July 11 “New York Times goes them one better in finding a global warming ignorer”: Apparently, Ben Stein has never heard about global warming. How else can someone interpret this paragraph: I don’t believe we need to do something radical about energy, but even assuming that we do, why do it right now? […]


NYT Corp. Ignores Solution Costing Corps.

While the U.S. economy’s current ills have proven “that the people who run Citigroup, J.P. Morgan, Wells and other major financial institutions may not be the sharpest knives in the drawer,” Dean Baker (Beat the Press, 2/18/09) wants to know, “How much do taxpayers have to cough up to make up for their ineptitude?”: David Leonhardt’s (February 18 New York Times) discussion of housing bailout plans never seems to consider the possibility that we would just let large numbers of foreclosures occur and let the banks eat their losses. Yes, many, if not most, of the banks will go under. […]