The news media is in the business of ratings, i.e. they report the story that generates the most viewers.
The average Americans don't even know what CDOs are, let alone the relationship between issuers/dealers and the rating agencies. Crap, most of the "experts" don't understand it well, or they wouldn't be in a world of hurt like they are right now.
Plus the average individual investors don't buy CDOs, its the institutions that do.
Its much easier to sell "the toy your child is playing with contains lead paint".
The masses are just there to take a ride on the train, they rarely get to know the driver let alone the destination.
