Counterspin – December 28, 2007

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This week on CounterSpin: a special look at two stories. One of them has received significant media attention that you might not always understand; the other is a story that’s flown under the media radar altogether. Turmoil in the housing market has been pinned on Wall Street’s appetite for so-called subprime mortgages. With house prices declining and foreclosures heading the other direction, the media are now sifting through the debris to tell us what happened. But what should we have known all along? And who exactly is being rescued now? Journalist Nomi Prins will join us to explain.