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At the Society of American Business Editors and Writers (SABEW) conference yesterday in Denver, the opening panel featured mainstream-media heavyweights admitting that journalists "blew" coverage of the financial crisis, that they missed the "big story" as it unfolded over the course of a decade.
A root problem, as TV journalist Allan Dodds Frank put it, was the "posture of reverence" adopted by business reporters toward their subjects, a posture that sees CEOs as stars and "corporations as sexy."