Subprime is a catchword for the media trying to play and spin the bad data coming in.
Be careful about giving the media too much credit for what they are presenting. I have a hard time believing that Bloomberg, MSNBC, etc… are even marginally insulated from the influence of the industry that they report on.
It’s clear that a huge amount of what is seen is nothing more than regurgitated propaganda. Why else would the big boys in the financial services business go public with their ‘opinions’ except to improve their own chances of success?
What I would call true reporting – actually going out and digging up factual information that otherwise isn’t widely known – is fast becoming a lost art. Very few ‘reporters’ actually ever go out in search of anything except the lowest hanging fruit.
On topic – thanks to all for a wonderfully informative thread! 🙂
