Thursday, October 16, 2008

Investigations: Media Ignored Derivatives Timebomb

Amid all the media hoopla about regulatory failures that contributed to the market collapse, you'd think journalists had been warning us all along about what was going to happen. Nothing could be more ridiculous. The recent coverage has ignored the fact that the financial press bulled housing - and derivatives - all the way up, just like it bulled dot-com stocks during the previous mania. Here's one good - albeit rare - look at the media role in all this, from Harper's Washington editor Ken Silverstein.

TAGS: markets, fraud, derivatives, investigations

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