This will be brief: mercifully I've cut back on my NPR listening, but the coverage of the financial crisis has been maddening. After hearing Democracy Now!'s excellent feature this morning with Michael Hudson and Nomi Prins I was struck with how uninformative NPR's reporting on the Wall Street meltdown is. My God, they haven't even mentioned the repeal of the Glass-Steagall Act in their coverage!
Honestly NPR's main message seems to be right in line with administration: calm down, everything's all right. Here's just a bit of what I've heard recently:
On Morning Edition, September 15, 2008: NPR turns to David Wessel of the Wall Street Journal. He says,
"They [things] don't look good, but they don't look as bad as some people anticipated..."
"...it doesn't seem to be the end of the world, at least not this morning."
"...if you have money and are willing to gamble you can make a good deal. When the economy comes back, when this episode ends over as it surely will end some day..."
On Morning Edition, September 16, 2008 Montagne opens with "As dire as the recent news has been, financial advisers say consumers and long term investors should not panic."
Frank Langfitt adds "...but even among the drumbeat of grim news some analysts caution ordinary Americans not to overreact."
All Things Considered, September 17, 2008 · NPR turns to Diane Brady, senior editor at Business Week. According to Michele Norris, "She's here to help us make sense of the government's plans for AIG."
Brady calmly explains that "What they're trying to do here is contain the crisis, that's the big issue."
I have to say the whole thrust of NPR seems to be to try to reassure listeners that - in spite of common sense - things are not so bad. And of course they are not about to address the structural systematic criminality and hypocrisy of the deregulated financial systems that have brought the economy to this point. Also I have yet to hear from one dissident economist who critiques the system. If you have heard one please note it in the comment section.