bigfishjuanThe series is about a fictitious national cable news show, and the purpose is to show through fictitious characters how the biggest news events of the past few years should have been covered by the media. In one episode, a sexy female economist/anchor is trying to teach the producer of the show everything she needs to know about the economic crisis, and she does so by making the claim that Glass-Steagall ushered in the greatest economic advances the world had ever seen. Then, when it was repealed, the deregulation caused the crisis.
The past few episodes take place during the debate about whether the debt ceiling should have been raised. This same economist continually comes to the producer saying that she should be given the top story every night because this is the most important issue facing the US: if the US were to “default”, or even appear that they were considering not raising the debt ceiling, the value of the dollar would collapse and our whole economy with it. (At that time, all the news networks were leading with the unimportant Casey Anthony trial for its entertainment value.)
If you could briefly speak to those claims, I would really appreciate it, because both seem short-sighted to me.