THE NEWSHOUR WITH JIM LEHRER | Paul Solman 1/9/09 | PBS

[savion94]

I love Jim Lehrer.

[DrHavanger]

what happened was that the media had faith in the "tech bubble" which exploded which led to the "housing bubble" again led by main media. the thing is that people have to diversify their investments, plain and simple. in order for one to succeed, another has to fail. to many people were succeeding at the same thing and no one was losing. now everyone, or the majority has to fail in order to get the real market price. now we have to figure out what companies are making money now.

[SpectralSeeker]

Why didn't the Fed warn us?

The Fed CAUSED it!!!

[Shaft2009]

It is not that they did not know, its more like they all had benefits in it.

[silversalvo]

Very interesting, thanks for the upload.

Nevertheless ,i still loathe and have nothing but contempt for the capitalist's way. I would have hoped that current events would have made it clear that "greed isn't good" and that the human condition cannot be reduced to self interest.

[arequipa1]

give me a break. people should be able to enjoy wealthy lives without being condescended to by the likes of socialists.

[silversalvo]

You just remember that next time when you go to the bank for a loan (To buy ,for example, an speculatively over priced house) where they charge you interest for the risk they're taking loaning you that money ... Which is really your money they are loaning to you since your taxes bailed out those few with" a wealthy living" a few time before this crisis, not to mention tax breaks for the rich... We wouldn't want them not "Enjoying" all that wealth , they worked so hard earning now would we?

[voyeurdug]

Most macroeconomic theory is faulty & hobbled by the presumption that MOST individuals involved in the economy are well-informed, and are reactive to indicators that only economists and financial institutions look at.