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Old 09-18-2008, 12:25 PM
 
1,461 posts, read 3,069,050 times
Reputation: 599

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the media is partly to blame for the financial meltdown whether you like it or not. IndyMac's failure was caused by panic after the media made it seem like the bank was going bankrupt. same thing is happening with WAMU. No doubt they have troubles but the media is making it out that 100% of WAMUs loans are defunct. It is not. They have the money to weather out the storm but the media is causing a panic run on the bank. If WAMU fails it is not because they ran the business into the ground, it will because the media forced it into the ground.
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Old 09-18-2008, 12:41 PM
 
Location: Windsor, Vero Beach, FL
897 posts, read 2,653,066 times
Reputation: 474
The media, as it exists today, certainly does not help. They definitely add "fuel to the fire". A few facts mixed with many opinions is what we have to deal with currently. And lets not forget our new found source of information, the good 'ole Internet. Even this website can have some pretty mindblowing opinions. It really is no wonder we are in a state of denial regarding our economy. We have too much information and much of it is inaccurate.
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Old 09-18-2008, 01:58 PM
 
893 posts, read 564,442 times
Reputation: 441
I am sick sick sick of the media in every aspect of life. They need to get off the 24/7 business and back to three hours a day. We'd all be better off.
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Old 09-18-2008, 02:15 PM
 
20,194 posts, read 21,591,291 times
Reputation: 9234
LOL... you don't want to know that IndyMac was in trouble? Or that WaMu was in trouble? Perhaps you would like to not know that 9/11 happened since you wouldn't have to tighten up security and have all these domestic spying programs... knowledge is power... did it quicken the death of a DYING company? Yup... I suppose we could let IndyMac and WaMu die a slow death but the ends are just the same... I rather know then not know and if my money is at stake, I need to know NOW....
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Old 09-18-2008, 02:17 PM
 
200 posts, read 363,006 times
Reputation: 202
I hardly ever watch news on the tube anymore, I'm sick of the over indulging, fear mongering, and excessive hype...all of em.
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Old 09-18-2008, 02:49 PM
 
893 posts, read 564,442 times
Reputation: 441
Quote:
Originally Posted by evilnewbie View Post
LOL... you don't want to know that IndyMac was in trouble? Or that WaMu was in trouble? Perhaps you would like to not know that 9/11 happened since you wouldn't have to tighten up security and have all these domestic spying programs... knowledge is power... did it quicken the death of a DYING company? Yup... I suppose we could let IndyMac and WaMu die a slow death but the ends are just the same... I rather know then not know and if my money is at stake, I need to know NOW....
That's what the internet is for.
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Old 09-18-2008, 03:01 PM
 
516 posts, read 1,778,057 times
Reputation: 271
Things haven't really changed much. Anyone remember "Dirty Laundry", from 1982 (that's what - 26 years ago?)
Quote:
We got the bubble-headed-bleach-blonde who comes on at five
She can tell you bout the plane crash with a gleam in her eye
Its interesting when people die, give us dirty laundry
-- snip --
We can do the innuendo, we can dance and sing
When its said and done we haven't told you a thing
We all know that crap is king, give us dirty laundry!
Applies just as well today as it did in 82...
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Old 09-18-2008, 04:48 PM
 
1,735 posts, read 4,385,269 times
Reputation: 1444
Are you saying if this wasn't reported it wouldn't have happened?
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Old 09-18-2008, 05:20 PM
 
Location: Great State of Texas
86,068 posts, read 76,918,971 times
Reputation: 27652
Sorry..if people don't understand what FDIC insurance means and panic and run to take out all their money.how is that the media's fault ? They are showing on camera what these uninformed people are doing.

If you don't like the media..turn off the TV. If people were informed and knew what FDIC insurance meant there would not have been long lines to the bank and the media would have nothing to report.
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Old 09-18-2008, 05:48 PM
 
Location: Backwoods of Maine
7,320 posts, read 9,038,709 times
Reputation: 20118
Quote:
Originally Posted by RedNC View Post
Are you saying if this wasn't reported it wouldn't have happened?
If a tree falls in a forest and no one hears it, does it make a sound?

(or something like that...)
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