The NYT apparently has not learned about the financial crisis that followed in the wake of the collapse of the housing bubble. That is the only possible conclusion that readers can take away from an article about anger at public sector workers that failed to note that the plunge in the stock market in 2008-2009 was the major cause of the shortfalls in public sector pensions.
Certainly if the reporters and/or editors at the NYT had known about the financial crisis and the stock market plunge it would have been featured prominently in this piece.
Sunday, January 2, 2011
Posted by lex dexter
Public Pension Problems: No One Told the NYT About the Financial Crisis | Dean Baker
Posted at 06:57