Populist bias? Now the journalists are the problem? First of all, Fannie/Freddie aren’t Main Street. They’re as insider as you can get.
Second, this is not a standard business cycle. Enormous amounts of fraud took place in the financial industry. More money was lost through leverage games on ‘Wall Street’ than the entire sum total of all of the real property in America. It wasn’t ‘Joe the Plumber’ flipping condos.
And while most of this ‘lost wealth’ was fictitious to begin with, we’re socializing the losses (WELFARE for BANKSTERS) just to preserve the stability of our country. The Greatest Bank Robbery of All-Time.
High-level principals and insiders in the FIRE sector are primarily responsible for this disaster. The dislocations we’re experiencing in our economy right now, orders of magnitude worse than a business cycle downturn, are the result. ‘Main Street’ didn’t put capitalism at-risk.
ANY news, journalism, blogs, etc. that sheds light on this sordid mess, exposes the fraud, restores transparency — that’s a good thing. The bias is incidental and appropriate, because there’s a concerted effort to cover things up.
