But as for Brokaw’s parting statement, it reflected a largely Republican view of the world, camouflaged as a tribute to fairness and balance. “The American people have been part of the problem.” How much? Ten percent? A quarter? Three quarters? Half? Such a statement, while balanced, is empty. Of course those who availed themselves of cheap back-loaded loans, assuming the bubble would never burst, are complicit. Missing from this account: the deregulation that permitted the banks to pass the bucks and conceal the bubble’s dimensions. Missing from this account: the marketing apparatus that shoves credit cards into people’s hands. Missing too, under the general rubric of “entitlements”: the excellent solvency of the Social Security system, whose efficiency is a modern marvel—thanks to Congress for refusing the Bush privatization that John McCain supported.

Brokaw’s bland evasiveness here does not bode well for what we can expect from his turn as moderator, at this Tuesday’s debate. But then again, Brokaw lowered his own bar.

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