Sunday , December 22 2024
Home / Mike Norman Economics / Pam Martens and Russ Martens — Corporate Media Continues to Pump Out Fake News on Wall Street Crash of 2008

Pam Martens and Russ Martens — Corporate Media Continues to Pump Out Fake News on Wall Street Crash of 2008

Summary:
When there is an epic financial crash in the U.S. that collapses century old Wall Street institutions and brings about the greatest economic collapse since the Great Depression, one would think that the root causes would be chiseled in stone by now. But when it comes to the 2008 crash, expensive corporate media real estate is happy to allow bogus theories to go unchallenged by editors. What is happening ever so subtly over time is that the unprecedented greed, corruption and unrestrained manufacture of fraudulent securities by iconic brands on Wall Street that actually caused the crash are getting a gentle rewrite. The insidious danger of this is that Wall Street is never reformed or adequately regulated – that it remains a skulking financial monster with its unseen tentacles wrapped

Topics:
Mike Norman considers the following as important: , ,

This could be interesting, too:

Frances Coppola writes Where has all the money gone?

Jan Kregel writes The IMF as Deficit Owl? What’s Wrong with This Argument?

Jan Kregel writes The IMF as Deficit Owl? What’s Wrong with This Argument?

Jan Kregel writes Jiu-Jitsu Comes to the Stock Market

When there is an epic financial crash in the U.S. that collapses century old Wall Street institutions and brings about the greatest economic collapse since the Great Depression, one would think that the root causes would be chiseled in stone by now. But when it comes to the 2008 crash, expensive corporate media real estate is happy to allow bogus theories to go unchallenged by editors.
What is happening ever so subtly over time is that the unprecedented greed, corruption and unrestrained manufacture of fraudulent securities by iconic brands on Wall Street that actually caused the crash are getting a gentle rewrite. The insidious danger of this is that Wall Street is never reformed or adequately regulated – that it remains a skulking financial monster with its unseen tentacles wrapped tightly around every economic artery of American life, retaining its ever present strangulation potential....
This is what public relations and advertising are about. There is no accountability for putting out false narratives. In fact, "consumer capitalism" is based on duping the rubes.

Wall Street On Parade
Corporate Media Continues to Pump Out Fake News on Wall Street Crash of 2008
Pam Martens and Russ Martens

Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

Leave a Reply

Your email address will not be published. Required fields are marked *