Economic Misreporting Matches Iraq War Failures

Eyeing a new poll that “revealed that one in four Americans now believe that the ‘faux’ news delivered by Jon Stewart and Stephen Colbert is replacing ‘real’ news sources as viable outlets,” Greg Mitchell (Editor & Publisher, 5/5/09) has to wonder “if the remaining (if relatively low) public respect for the press is gone for good”:

Yes, the delivery platform of the future will change–the Kindle, iPhone apps or rubbery plastic may replace paper everywhere–but the content still has to be credible. And now it must be said: The media blew both of the major catastrophes of our time.

I speak, of course, of the Iraq war and the financial meltdown. I wrote a book about the first, calling it So Wrong for So Long. I could write a sequel on the second disaster, and maybe title it So Wrong Again.

Even though “individual reporters at certain papers did some fine watchdog work,” Mitchell writes that their efforts were “to no avail” and that “defenders of the press in this matter are cherry-picking the good stuff, much like Bush with his intelligence on Iraqi WMDs.”

See Extra!: “Busted Bubble: The Press Fell Down on the Job on Housing Prices” (11-12/08) By Veronica Cassidy.