Back To The Future: Dean Baker On The Mortgage Crisis

Brian's post below refers to David Sirota's article today, "The $700 Billion Questions," and he's right: You must read it. In that article Sirota examines the fact that Obama does not include a single progressive voice in his cadre of economic advisers on whom he is relying so heavily during the escalating financial crisis. "Other than Joseph Stiglitz," Sirota writes, "Obama included not…even one of the many visionaries like economist Dean Baker, who has for years been predicting exactly this kind of meltdown." If you ever needed any proof for what Sirota contends here - that Baker is a visionary - read this article by Baker, "Bursting Bubbles," published in In These Times in 2003. So you know, the New York Times finally picked up this story in 2007 with their article, "This Is The Sound of a Bubble Bursting," four years after Baker already covered it, thus begging the question: where were they in 2003? Oh, that's right - they were too busy cheerleading Bush's disastrous, misguided war. Over the last few years In These Times has consistently published stories that are later picked up by other independent outlets and the mainstream media, (see our cover story, "Showdown" about the Udall cousins who are currently fighting for seats in the Senate; now look at this Times article published 4 months later). While our writers cover what's going on right now in the world and what it portends, the MSM waits months, sometimes years, to catch up. Our subscribers and regular readers get the most important, relevant news first. It's why independent media is so invaluable to the health of our nation and the state of our democracy. Can you imagine if the nation had heeded Baker back in '03? Subscribe to In These Times today. Make a donation to ensure our writers keep 'em coming and you, the reader, are always ahead of the curve.