The purpose of this Major Research Paper (MRP) is to explore the 2008 economic recession and the unprecedented collapse of the American economy triggered by the mortgage market that affected individuals and corporations. One of the objectives of this work is to identify the key actors who prompted the economic crisis and how they influenced the public perception of investing in the housing that led to bankruptcy for millions. Another objective is to identify the media’s role in the recession and some of the key lessons learned in how they could have mitigated the crisis. This MRP will undertake a critical discourse analysis built on the seminal work of theorists (e.g., Van Dijk (1977), and Fairclough (1985) to analyze media communications during the recession. Critical discourse analysis would be used as a theory given it examines the interaction between the abuse of social power, dominance and inequality perpetuated by institutions through text and conversation in the social and political context (Wodok and Myers, 2001).