Dean Baker (Beat the Press, 3/17/09) weighs in on Richard Cohen's defense of Jim Cramer, accusing the Washington Post columnist of "continuing the stream of excuses for the financial media's failure to warn of the economic crisis." Baker sees "an effort to imply that the issues involved were very complex" lying "at the center of the cover-up for the media's incompetence." Baker's reply to the Cohen claim that "there was not much they [financial reporters] could do, anyway. They do not have subpoena power. They cannot barge into AIG and demand to see the books, and even if they could, [...]
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