MarketWatch columnist criticizes media coverage of financial turmoil

MarketWatch columnist Jon Friedman did not hold back when he expressed his dissatisfaction with the media's coverage of this week's Wall Street crisis.

Friedman pointed specifically to the press conference held by Ken Lewis of Bank of America and John Thain of Merrill Lynch  to discuss B of A's takeover of Merrill.  Friedman said "the event should have been regarded as a sorry state of affairs, yet another glaring sign of greed, stupidity and mismanagement on Wall Street." Instead, according to Friedman, the media showed a collective lack of "skepticism" or "outrage." He said the media's passiveness combined with their politeness and deference made the press conference "a victory lap for the financial services industry." 

Ultimately, Friedman had a strong message for business journalists: "Don't treat these CEOs like heroes." 

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