Tuesday, March 10, 2009

I Shall Not Tell a Lie

What happens when corporations own the media. Buzzflash on CNBC hyping GE stock as it plummets.

NPR piles on.

Much of the writing about these particular derivatives took on a gee-whiz tone. One Forbes story (admittedly back in August 2002) argued against regulating securitized investments with this line: "It is a credit to the skill of the financial engineers setting up these securities issuing entities that few have blown up."

Bet the authors of that piece would like to have that article back.