The Audit wants to know. What role did the press play in diffusing financial warnings in the years leading up to the current crisis? We can't answer that question in its entirety--especially not in one post--but we can offer an example for your consideration: the press's supremely insufficient response to an important 1994 report by the Government Accountability Office, the investigative arm of Congress, warning about the dangers of derivatives--those largely unregulated financial instruments that have played such a central role in the current collapse.
The Audit wants to know. What role did the press play in diffusing financial warnings in the years leading up to the current crisis?
We can't answer that question in its entirety--especially not in one post--but we can offer an example for your consideration: the press's supremely insufficient response to an important 1994 report by the Government Accountability Office, the investigative arm of Congress, warning about the dangers of derivatives--those largely unregulated financial instruments that have played such a central role in the current collapse.
