Steve Coll dreams:

...how did we end up in a society where Williams College has (or had, before September) an endowment well in excess of one billion dollars, while the Washington Post, a fountainhead of Watergate and so much other skeptical and investigative reporting critical to the republic's health, is in jeopardy? I'm sure that Williams-generated nostalgia in the emotional lives of wealthy people is hard to underestimate, but still...

Felix Salmon adds his own two cents.

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