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September 7, 2012 / needhamgrassroots

Five Veteran Economics Reporters Who Say We’re Better Off

In their attempts to grapple with the question of whether Americans are better off, cable news outlets have regularly failed to provide important context about the dire state of the economy in late 2008, when millions of jobs were lost.

Several veteran economics reporters and editors told Media Matters that the economy is better off, especially given the fact that this month marks the fourth anniversary of some of the worst shocks to the financial system.

“September 2008 was one of the scariest months I have ever experienced as a business reporter,” said Diana Henriques, who spent 22 years covering finance for The New York Times and is the author of several books on Wall Street. “We had seen Bear Stearns nearly fail, we had seen Fannie Mae and Freddie Mac taken under receivership.

“But those turned out to be footnotes to what erupted when Lehman Brothers filed for bankruptcy, AIG was on the brink of collapse. I went to work every day wondering if this would be the day the ATMs went dark, wondering if this is the day the American banking system failed, it failed in the great depression.”

Henriques and several other economics reporters cited the Lehman Brothers collapse, which occurred almost exactly four years ago, on September 15, 2008.

 

Five Veteran Economics Reporters Who Say We’re Better Off | Blog | Media Matters for America (9/6/2012) http://bit.ly/TspMJW

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