Busted Bubble
The press fell down on the job on housing prices
Over the summer, the country's two mortgage giants, Fannie Mae and Freddie Mac, collapsed, marking the definitive bursting of the housing bubble that began in the mid-1990s. Although it was the second major economic bubble in less than a decade, most in corporate media ignored the warning signs.
Dean Baker, co-director of the Center for Economic Policy and Research (CEPR) and author of the American Prospect blog Beat the Press, told Extra!: "It ...
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