Unfortunately, the intimidation was a success. The BBA and Barclays chose their word carefully, because accusing journalists of "scaremongering" suggests they are irresponsible sensationalist hacks. In essence, through lies and intimidation, they threatened to ruin careers
The Financial Times backed off. As a result, the best coverage of the ongoing scandal came from a controversial blog with mostly anonymous writers called ZeroHedge. It pounded on the story harder than mainstream financial media. Not only are other banks implicated in the scandal, the Bank of England, a bank regulator, is also implicated.Read it at The Huffington Post
Financial Journalism: "Sometimes Being Responsible Means Pissing People Off"
by Janet Tavakoli | President, Tavakoli Structured Finance