Last Saturday night, over dinner and drinks, the President of the United States was overheard saying:

Michael Steele is in the house tonight. Or as he would say, ‘In the heezy.’

Wazzup!

For the last time, Michael, the Republican Party does not qualify for a bailout. Rush Limbaugh does not count as a ‘troubled asset.’

That’s right. At the White House Correspondents’ Dinner, Obama killed. American humor in the commercial media, over the last decade, has largely trended toward the coarse and snarky, so Obama’s delivery – mature, intelligent, and martini-dry with a hip-hop twist – was thoroughly (in a word laden with meaning) disarming. (Even as he reaffirmed Michelle’s right to bear arms.)

Disarming, because journalists and Big Media – in a crisis for survival – are now reckoning with their role in the great failures of the Bush Administration, in the failures of the economy, and the failures of their own profession. All are connected. <Read more>