It is absolutely amazing to watch the Mainstream Media outlets suddenly waking up from their 7-year coma. For years, all you would hear is how great the housing market was and how great the economy was. Business Channel reporters would fawn all over Alan Greenspan and fail to question his ridiculous mishandling of interest rates in creating the housing bubble that is bursting today. The people that "got it right" and actually understood what was going on were in the blogosphere/non-mainstream media on the internet. Now those same people that were ridiculed, Nouriel Roubini, John Williams, Robert Shiller...etc are being showcased by the mainstream media as people who actually know what they are talking about.
I get the sense that because the mainstream media have been so wrong for so long, they fear that viewers are turning to the internet for better information. In order to combat this viewer defection, the networks are desperately trying to embrace the internet "heroes" who've been "getting it right" for a very long time. Better late than never, I guess.
