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
ZeroHedge is cutting edge journalism now ?
ReplyDeleteI follow their twitter feed because they're often the first to report breaking news. But their editorial content is all over the road map.
Not only are other banks implicated in the scandal, the Bank of England, a bank regulator, is also implicated.
ReplyDeleteI can only hope this turns into the banking version of "Lord of the Flies".
Personally I don't think the elites are getting pissed off often enough.
ReplyDeleteLet's face it. Politeness will be ignored and any slight criticism of the status quo is going to be firmly rebutted with any verbage permissible in the English language. The veracity of the rebuttal is irrelevant to them as long as it is vaguely plausible, loud and repeated often.
The time for pussyfooting around is so over. Give it to them in plain language right in their face.
Banks have been splashing pee on our leg forever. But now they're pissing directly on us AND in our coffee. And they wonder what all the fuss is about? Thank heaven for the bloggers and their willingness to turn and piss right back on them. (Urine being sterile, it remains to be seen how effective the pissing match will be.)
ReplyDelete