As long as I've lived in America, there's been this tragic-comic ritual known as the "hunt for the smoking gun," a process by which our official press tries to inoculate itself, and its readers, from political and economic realities.
The big smoking gun issue back in 1973 and 1974 concerned Richard Nixon. Back and forth the ponderous debate raged in editorial columns and news stories: Was this or that disclosure a "smoking gun"? Fairly early on in the game, it was clear to about 95 percent of the population that Nixon was a liar, a crook and guilty as charged. But the committee rooms on Capitol Hill and Sunday talk shows were still filled with people holding up guns with smoke pouring from the barrel telling one another solemnly that no, the appearance of smoke and the stench of recently detonated cordite notwithstanding, this was not yet the absolute, conclusive smoking gun.