Yvette Kantrow, the executive editor of The Deal, writes Friday that Washington Post media critic Howard Kurtz is misguided when he places some of the blame of the current financial crisis on the business media.
“Kurtz admits some stories were indeed done — there were dozens of housing bubble pieces, and there were prescient warnings from The New York Times’ Gretchen Morgenson about credit default swaps — though you do wonder how deep Kurtz’s reading goes. But, he argues, the media didn’t put all the pieces together and warn us that the banking system was about to fall off a cliff.
“In short, the media failed to fully predict the future, an easy observation to make with the benefit of hindsight.”
Read more here.
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