I just heard Jamie Dimon, when asked about the bad actors in banking, say: There were bad actors in finance just like there were bad actors at newspapers. Ross Sorkin didn’t call him on it, but bad actors at newspapers don’t cause depressions (or managed depressions). On second thought, the newspaper exception might be Judith Miller’s articles in The New York Times favoring the Iraqi war that were based ex-post on purposely false information. That war was an expensive mess but not depressionary. At least not in a singular sense.