Media outlets love anniversaries. They become the makers and newspegs for one day stories that become pretexts for episodic coverage of key issues that substitute for ongoing critical reporting.
It’s a ‘how are we doing coverage ‘ that aims to give us a grade but not look too closely at the causes..
So, no surprise, the President will mark the occasion this week, with, what else—a speech, really remarks aimed at providing a positive spin for a series of economic disasters that we have yet to climb out of.
“A White House official said Obama will deliver remarks in the White House Rose Garden on Monday to mark the fifth anniversary of the financial crisis, which was accelerated on September 15, 2008 when the Lehman Brothers firm filed for bankruptcy protection.
The Democratic president will focus on the positive, discussing progress made and highlighting his prescriptions for boosting job creation amid budget battles expected with Republicans in Congress in the weeks ahead.”
Never mind that that venerable bank, Bear Stearns went down a year earlier in 2007, and that consumers were being targeted by financial predators pedaling subprime loans and other financial frauds for many years earlier.… Read the rest