Romenesko

National Journal
They reported rising home prices and growing consumer debt, but didn't work hard enough to figure out what was happening at the "highly sophisticated level" where the richest and most powerful make their money, says William Powers. "It's a bit like what happened in the run-up to the Iraq war. ...By and large, the media culture was content to see what it could see, report the soothing things that senior officials said, and leave it at that."