The essay isn't even his latest, but it's certainly worth attention.
I remember reading All the President's Men and thinking: That's journalism. You do what it takes to get the truth and you lay it before the public, because the public has a right to know.
This housing crisis didn't come out of nowhere. It was not a vague emanation of the evil Bush administration.
It was a direct result of the political decision, back in the late 1990s, to loosen the rules of lending so that home loans would be more accessible to poor people. Fannie Mae and Freddie Mac were authorized to approve risky loans.
Card provides much more detail along with stinging criticism of the media. Though some news stories, such as one I reviewed from The St. Petersburg Times, do mention the role of relaxed lending standards in bringing on the subprime mortgage crisis, Card rightly points out that a great deal more news reporting could have and should have come out of the situation.
John Hinderaker might be interested to know that Card is a Mormon and a science fiction writer in addition to being a conservative Democrat and columnist.