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By the end of 2007, articles appearing in several European and Asian publications spoke of dark thoughts regarding how badly the US recession would affect their economies.  At this same times, in the US it was "great business as usual" and the word "recession" was nowhere to be found throughout the US media.  

Despite the signs of serious troubles in the real estate and financial markets, leading US bankers continued to reward themselves with generous bonuses for "performance." 

Government economists were well aware of the "talk of a US recession" in the international media and frequently flew across the oceans to speak optimistically about the state of the US economy at international economic gatherings in an attempt to quiet down their worried international counterparts.

By the spring of 2008, a few articles began to pop up in the US media, expressing serious concerns, but an army of financial professionals and economists publicly eradicated any pessimistic thoughts about the stock market and quickly overshadowed these few, small voices. But the word was out.  To prevent a US panic that most likely would've caused a rapid pull of money from the stock market,  the US government administration allowed the national media to brand the US state of internal affairs as "experiencing a mild depression."  This was inevitable as the truth about the state of the US economy continued to expand its' reach to more and more of its citizens and international neighbors.  The media had also continued to give advice about what was needed in order to reverse this mild depression and chanted "BUY, BUY, BUY, SPEND, SPEND, SPEND," and television and radio financial advisors, as well as Wall Street pratitioners continued their grand discussions about how hot the market was and what great bargain companies were available to buy.

By late summer of 2008 the market started falling so rapidly that even the "mad money" man was caught by surprise.  At least he was honest and one of the few in the media to scream, "The king is naked!” and openly advised his viewers to get and keep their money out of the stock market.

The government administration in power bluntly kept the word ‘recession’ out of the national media dictionary until the final month of their term, December 2008 and without questions asked, started giving "goddy bugs" to the main architects of this recession with billions of $ in it. "Too big to fail" added the next administration and kept throwing the "goody bugs".