I’m a very regular viewer of the business channels (such as CNBC and Bloomberg).

I can assure you that the financial press has been consistently well behind the curve in its reporting on the current crisis in finance.

As housing inflated though mid-2005 there was never a mention of items such as “liar loans,” or of “ninja loans” or of “no-doc loans.” Rather, the press was quite content to watch housing grossly inflate – possibly because the reporters’ own homes were inflating and it would not do to ask too many questions. Instead, they urged the public to purchase $2 million fixer-uppers in Compton.

When early last year (2007) the “sub-prime” mess first appeared, the press engaged in “minimization.” We were told to pay no attention. It’s just a minor problem confined to a very few loans and was a trivial problem (that has now destroyed the economy).

Four years ago at this time, we heard nothing but “macaca” and of Mark Foley. Those matters were trivial compared to the (so far) trillion dollar financial tsunami. But today, the press has no intention of discussing causation and the economic disaster because it would sink the liberals/Dems out of sight.

If the public is to be informed, it will have to be via the blogs. The press will blame Bush/McCain/Repubs and will have zero recollection of Frank, Dobbs, and Company or of their own complicity in this fiasco.

The public has every right to be furious and that fury should be aimed directly at the Dems and at the liberal media, which is absolutely incapable of covering reality.

The public will, one day, wake up and there will be Hell to pay. For right now, the system is dysfunctional. The public is turning for salvation to the same captains who just sailed the ship into the iceberg. Their trillion dollar bailout will, of course, simply compound the problem and, no, the taxpayers will never make a profit on the deal – those believing otherwise are to be pitied.

The choice was this: Either make six figure loans to those collecting welfare benefits or to those collecting unemployment benefits (two valid income sources for loans) or you’re a racist. You could get prosecuted by Janet Reno.

Result: Disaster = and have no doubt it was the liberals who are primarily responsible.