Maybe it's a liberal thing, but I nodded all the way through Geov Parrish's above-linked list of overhyped and undersold news of the year. Dead on, as far as I'm concerned. [via the semi-retired Anne Zook, who I just happened to look up the day after she posted this]
Also worth mentioning is Project Censored's 2004 list which is a bit heavier on the negative stuff, but the overlap between the two is considerable.
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