CNN: Financial Bloggers Gain Recognition Amid Turmoil.
The quality financial blog such as Calculated Risk, Big Picture, Mish's Global Economic, and the housing bubble blogs were years ahead of the game while the MSM, US Treasury and Wall Street. As someone commented at the Big Picture "these groups could not see the oncoming freight train until it squashed them like a bug on a speeding car windshield." Funny!
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add iTulip and ML-Implode's stable to that list.
ReplyDeleteso is Obama admitting his staff doesn't monitor these blogs b/c you have to pay careful attention?
President Barack Obama, who has a staff-written blog on WhiteHouse.gov, has even acknowledged the presence of financial blogs, although he didn't offer a particularly flattering review, as he told the New York Times last month that he didn't find blogs to be reliable, specifically citing the economy as an example.
"Part of the reason we don't spend a lot of time looking at blogs," he told the newspaper, "is because if you haven't looked at it very carefully, then you may be under the impression that somehow there's a clean answer one way or another - well, you just nationalize all the banks, or you just leave them alone and they'll be fine."
i don't know of anyone who advocates either full nationalization or full privatization (i.e. let them fail) under the delusion that financial interests will emerge "fine." quite the contrary.