New York: If you walk through London’s High Gate cemetery and wander over to the grave of the late Karl Marx and then listen closely with your ear to the ground, you might hear a repetitive murmur of the phrase “I told you so” in a distinctly German inflected accent.

Is the same type of misinformation influencing economic coverage?

The FOX has come back to guard the hen house. But if history is any guide, the hens and the chickens will not be too welcoming.

This question is being asked by The New York Times about the failure to anticipate and potentially pre-empt the Sub-prime mortgage crisis which has since escalated into a deeper meltdown in global financial markets leading to lay-off and predictions of a fall-off in economic growth.