A quick digest of the week’s social media news with a side of fun? You’re welcome.

We are on the verge of a technical revolution and the ways of old media will fall to new media.

by Nezua, TMC MediaWire Blogger

After postponing twice, President Obama finally met with a bipartisan group of lawmakers on June 25 to discuss moving immigration reform legislation forward. The meeting was applauded by activists and advocates for immigration reform, as the issue seemed to have stalled, and the acrimonious tone of the debate has proven deadly.

Now that Treasury Secretary Timothy Geithner isn’t going to impose pay restrictions on bailed out Wall Street executives, it’s critical to remember that severe economic inequality was a major factor in the financial meltdown.

Immigration reform advocates and opponents have reached a consensus. There will be no legislative movement on immigration reform this year. President Obama has often stated—both while a candidate and as president—that immigration reform cannot be approached in a piecemeal fashion, and that his administration would tackle the issue in 2009. But while the legislative branch shuffles its feet, the deportation industry shows no sign of slowing, hate crimes are rising and hate groups are being main streamed. As a result, the polarization between reform advocates and foes is getting worse.

Healthcare is finally taking center stage as competing bills wend their way through Congress. Many predicted the costs would kill the public option last week, but Obama kept hope alive by striking a deal to save $80 billion on drugs for the elderly.

This week, the Audit takes a close look at the Obama Administration’s proposed financial regulatory overhaul.

On May 30, 29-year-old Raul Flores and his 9-year-old daughter Brisenia Flores were shot to death, purportedly by a group of far-right anti-immigrant activists who broke into the Flores home by posing as police officers. On Friday, Shawna Forde, anti-immigrant activist and Executive Director of the Minutemen American Defense, (MAD) along with accomplices Jason Eugene Bush and Albert Robert Gaxiola were arrested on two counts of first-degree murder and burglary charges related to the Flores murders.

Healthcare reform is back in the news, as legislators and interest groups spar over the promised public component of Obama’s healthcare plan.

This week’s Audit looks ahead to President Obama’s financial regulatory overhaul and review some of the abuses from the subprime establishment.