The real head-scratcher for serious media-watchers right now is what the "war" between the White House and Fox News was meant to distract us from this week. The "war" itself is laughable, for a number of reasons.
It's easy to rail at Congress and the Fed and the President and all the bozos past, present and future who don't foresee the bubbles or simply drink too much of them. But what would you do? I'm seriously asking.
Five fatal flaws in the financial sector's current structure have created a monster that drains the real economy, promotes fraud and corruption, threatens democracy, and causes recurrent, intensifying crises.
Not only are we richly rewarding those who wrecked our economy, but also, we have to put up with hundreds of fabrications about how the big banks got us here. Here is my biggest, fattest lies list for 2009.
WANTED: Bright, dedicated corporate professionals for key posts at massive insurance entity now essentially owned by the Federal government. Job would start immediately, as employer is sick of current crop of whiny, entitled executives.
Thousands were involved, of course, but these 175 must stand in the forefront of their cadre, trembling, as their golden parachutes are folded up, their ceremonial swords broken over the knee of the government.