Of the major television news outlets, PBS has been by far the best at covering the housing bubble. In this segment:
"The NewsHour's extensive coverage of the Bush and Bernanke bailout of the U.S. housing market, along with a discussion with economists Mark Zandi and Diane Swonk and their expectations for an upcoming Fed rate cut."
This segment is delivered in two parts:
CLICK HERE TO WATCH PART 1
CLICK HERE TO WATCH PART 2
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What drives me crazy about this whole bailout issue is that it's constantly being define as a bailout of troubled homeowners.
This is NOT a bailout of homeowners -- it's a bailout of lenders.
If all these analysts and media sources starting calling this what it really is -- a lender bailout -- then perhaps the public would wake out.
As long as it is frame as providing assistance to little, old ladies facing eviction, the bleeding hearts will continue to buy this whole thing.
That guy on CNN summed the situation up nicely.
And I like how he mentioned the fact the nobody is going to be homeless. Renting is not a tragedy. Paying half of the cost to own by renting should be seen as a good thing. But in this country, it's not.
Maybe that's part of the problem: this "ownership" society and the false, widespread view that a house is an investment. It's a friggin place to live, people! Housing, over the long term, is a sh!tty investment compared to almost everything else. It barely outpaces inflation.
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