The New York Times never asks this question because it doesn't make for news and the answer has basically been the same since the emergence of banking giants. Asking if banking is too powerful will always yield an affirmative, and the discerning NYTimes reader will react with a justified, "No shit Sherlock".
> I am also not sure why the NYT feels compelled to bash the Bay Area
The issue is cultural. Folks from the Bay Area tend to couch their money-making schemes with nonsense about making the world a better place. Finance workers in NYC have no need to sugarcoat what they do and are unabashedly trying to make ludicrous amounts of money. In New York, calling people out on their bullshit is deeply culturally ingrained, and the Bay Area is clearly full of it. :. The NY Times gives its primary demographic what it wants.
Everyone knows that the financial sector is too powerful, and attempts have been made to take action on it (i.e. regulation, albeit relatively unsuccessful). I think this is the first time we're really seeing a public conversation about the power of software fueled by advertising and its implications on privacy and speech - discussion about regulation and policies is coming around for the first time, making it pretty important news to cover.
Do I think there should be more privacy reform? Yes. Do I think there should be more banking reform? Yes. Do I think for a minute that the current state of the world will persist for a decade? Not really.