This is the second day of the annual gathering of corporate law types in New Orleans and this is my third update on the seminar. The panel this morning is entitled: " M & A and the Media". Among those on the panel includes reporters from The Wall Street Journal and The New York Times. The panel discussed the need to be aware of what is being said in the blogosphere, as the latest news in often reported there first. The question was asked about why the media (particularly the mainstream press) did not "identify" or "report about" the underlying problems that led to the current economic crisis–before the crash. In my view, the answers to that question from the panel did not satisfactorily address that burning issue.