Why isn't the media asking: "If the economy is doing so badly...

[johnnyrocket]

...for so many working people...why are the financial institutions and big corporations making record profits and sitting on so much cash?"

Why isn't there any in-dept reporting and investigation into how these new profits are being realized, and how it is possible to reap these huge profits in the headwinds of a horrible economy?

The disconnect is huge, and the question seems so obvious. I have yet to see any comprehensive reporting on why this is happening. And more importantly, are these new profits coming at the expense the middle and working class, and if so, where's the morality in a system like that?

[valerief]

1. You mean the 1%er M$M? nt

[teddy51]

2. I really want to know how much of the Right wing is behind the profits

being made by these Corporations, and upper rich. In other words, do the middle class Right wingers agree with their Congress Critters or not?

[spanone]

3. there is no comprehensive reporting anymore. no investigative reporting.

no in-depth reporting.

[DJ13]

4. Most of the talking heads on the MSM are at least in the top 5%

That was part of the long range plan, pay enough that those who ask questions will have their own financial stake in making sure the upper class stays in control.

[Scuba]

5. They work for ht e1%

[TreasonousBastard]

6. They are-- I hear it all the time, but I don't watch cable news....

and I read more than the front page of the NY Times.

(I hear the answer, too, also not on cable news.)

[unblock]

7. i'll tell you where the profits are coming from

wall stress cut nearly 2/3rds of their staff and restricted their business to the profitable enterprises, which largely means borrowing virtually free government money and lending it out only to very strong businesses. some are lending to marginal businesses at very high spreads over treasuries. relatively low risk, high profit.

then there's the proprietary trading business, in which they take advantage of their market knowledge and technology to make a profit nearly every time. volatility in the market means big opportunities for trading, whether up or down. you just have to know which side to be on, and when you're in the business of seeing the balance sheets of a huge portion of the s&p 500 and talking to the big money, it's pretty easy to consistently be on the right side.

the economy is NOT doing so badly AS A WHOLE. the problem is that "as a whole" thing. the economy is working swell for the companies and individuals who have oodles of cash. they can get cheap capital from the government, cheap labor overseas, and middle-class demand for their products overseas. that doesn't help the rest of america much, but what do they care.

the economy is NOT working well for the rest of us. it's simply misleading to lump these two economies together.


imho, the bush/obama bailouts were necessary, but they both neglected to extract a pound of flesh from the banks. it was inexcusible not to make them agree to resume reasonably normal lending, to write off their bad debts within 6 months, to accept considerably less than par for the toxic assets, etc., or else agree to go into receivership (my understanding is that the government couldn't legally force them into receivership at the time, but they could threaten to not help any bank that refused to accept reasonable terms).

[Rabblevox]

8. Reporters are no longer paid to find or report the truth. /nt

[GeorgeGist]

9. You're asking the wrong 'media' ...

to ask obvious questions.

[TransitJohn]

10. They're keeping the money for the stage that comes next

after the whole house of cards comes down, is my guess.