Reply #45: The point is that they do know better

[Alcibiades]

Donaldson, Roberts, Will, and even the "young" Stephanopolos, have all failed us. The story of the financial collapse of the US economy has been there for my entire life. The press, which is supposed to spend their time holding those in power accountable, instead spend their careers lurching from O.J. Simpson to Clinton/Lewinsky to Sarah Palin's grandchild. The huge trade deficits, budget deficits, the increasing imbalance between rich and poor, the real impact of deregulation, all of this has been evident for years. It's like our economy has had some sort of festering lesion on its face, and the collective response of the press corps has been to ignore it and hope it goes away, until one day there's this devastating diagnosis of malignant melanoma and we find that the economy has to undergo chemotherapy, and now they begin to connect the dots.

Just like with global warming, health care and so many other problems. The old people in the old media have been AWOL.

Old. These folks are old. The older generation that has been in charge has run up a huge credit card bill, and are about to retire and hand the debt to their kids and grandkids: "I'm moving to Florida! Enjoy your austerity."