I’m surprised by the lack of real debate in the media on the current financial crisis. Too many commentators are content to state the obvious, without providing any real insight into what is going on. To add insult to injury, many offer, as insightful predictions, stock standard phrases such as “the crisis isn’t over yet” and “tighter regulations are required”. It’s as if, after covering hurricanes and wars, the financial crisis has been put in the too hard basket because it can’t be explained away as an act of god or an act for god.
The major exception to my comments above is the NYTimes. Case in point:
- For a cool and lucid explanation of the current financial upheaval, check out Diamond and Kashyap guest blog on Freakonomics
- For an interesting challenge to the “tighter regulations are required” mantra, have a look at David Brook’s Op-Ed: The Post-Lehman World
- If reading is not your thing, check out the interactive media page: A Year of Heavy Losses