Too Little, Too Late

Gretchen of the NYTimes writes a fine column weekly on the banks. She has provided insights to the post apocalyptic hand-wringing and the somewhat lame response thus far. Now she will have a best seller, "Reckless Endangerment".

I'm sure there will be plenty of drama for the reader. But, like other books that have launched on the back of the 2008 debacle, I think it's a bit late. Not that we shouldn't analyze what happened and strive to fix it. But, this IS NOT NEWS!

Anyone who was paying attention knew we were heading toward a potential calamity. As early as 2002, folks were raising storm pennants and urging a course change. But our journalists didn't pick up on it. WHERE WERE THEY THEN? It reminds me of the sleepwalk into Iraq, then "I'm shocked, shocked. Gambling!?"

Perhaps Ms Morgensen did raise one of these flags, risking a Cassandra role amid the robust momentum fueled by gobs of money and a distracted, emasculated regulator crew. But for the most part, our journalists failed to see what was obvious at the time to any thinking person.

What is their role, after all? They stand in our place to get the right information, then pass it along to we citizens so we can fulfill our republican duties. Instead, they missed entirely a crash in progress, and now many are banking royalties writing about what they should have seen in the first place.

Our esteemed journalistic profession needs to up its game. And if you need further proof, press your replay button and watch the ham-handed hosting of the Republican so-called debate. YIKES! James Madison is rolling in his grave!