Gary Weiss points out one of the cancers growing in our vaunted free and independent press: The more dependent they become on the good will of the people in their beats, the less effective they are.
We can only speculate why the WSJ would not see the Madoff story as a juicy multi-faceted opportunity to not only expose Madoff, but to dig into the (apparent) lapses in oversight from both the SEC and so-called "responsible" fund managers.
Were they afraid to take on someone so seemingly powerful and influential? This is not the image of a good newspaper.
The WSJ should take a long hard look at a missed opportunity. They have an option to make themselves, or to concede that they are just Wall Street Pravda.