When you start off by saying, "Goverment failure is to blame for the mess in the housing market." I have to disagree, the govt. didnt telling "Californian's" (happened everywhere, but this was some of the most extreme cases) to buy housing at three times there market value of recents years value, even thou they couldnt possibly afford it. With the grand hopes of "flipping" the house to "screw" the next guy for a profit.
And I do agree with your other points, the Media is biased, but again, thats what Americans tune into watch.... so its a business who want advertisers not to inform people.
I agree that this country is stripped of wealth on a daily basis due to "CEOs" "influenicing" law-makers that benefit both sides and hurt the consumer/general population and the media who is backed by the same CEO's and push the same law-makers biased news coverage, but if a certain business/law-maker/news agency is found guilty of any of these (which I assume you can name numerous accounts) then we as the consumer should voice our opinion and boycott buying that business's product, not voting for that law-maker, and not tuning into that news agency. Until that happens things are going to change. That is how "they" are going to be held accountable, by the almighty dollar, which is what "they" care about.