in london there was a run on northern rock bank more bank write downs followed billions that few b.s. and citi group fannie mae the largest source for home loans reported a three point five five billion dollars loss for the fourth quarter in march two thousand and eight the fifth largest investment bank in the world bear stearns was on the verge of collapse many of the nation's most respected financial journalists are still getting it wrong get my money out there no no no bear sterns is fine do not take your money i just read if there is one k. boy other than the plus four hundred pairs turns is not in trouble i mean if any are more likely to be taken over don't move your money but that's just been silly don't be silly the media was complicit says do you start a financial journalist now with the columbia journalism review the business press former colleagues of mine friends of mine did not really recognize and understand what they were up against how dramatically the the world that changed the lending industry had changes things that you've kind of documented how out of control wall s