How Our Gutless Media Helped Trigger the Credit Crisis

AlterNet by Trudy Lieberman | Nov. 20, 2008 (News Analysis)

Truly educating the public seems a pretty remote goal for journalism when consumerism reigns. There's no consumer movement to make news; there are no leaders to be newsmakers, and few local government agencies left dedicated solely to the consumer cause. Heads of regulatory agencies rarely are invited to appear on the Sunday morning news shows, as they once were. There are only advocacy groups, including what remains of the old Nader organization, that get ... Full Story »

Posted by Diane Kamp

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4.6

by Dwight Rousu - Nov. 21, 2008

The story is thought provoking about the causes of lack of coverage of consumer protection issues. It seems to still need a little deeper investigation of why the media are not reporting consumer issues. Is it corporate control, or is the public to fat and dumb to be interested? No mention is made of the complex financial instruments such as default credit swaps that even the buyers/sellers with MBAs failed to either recognize or speak out about the risks, let alone journalists.

Where are all the young Lincoln Steffens when we need them? Is investigative journalism too hard? Consumer Reports reports on some of these issues and finds an interested public. Maybe they could be syndicated.

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4.9

by Kenneth Sibbett - Nov. 20, 2008

This is excellent journalism laying the news of predatory lenders from one era to another. great.

Miss Leiberman 's point of the media not covering the banking, credit card, mortgage lending and other practices of deceiving the common borrowers because there's not enough glamour or acculamation or interest by the major media is right on time in this age of borrowing and paying interest rates a pawn shop dealer

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5.0

by Diane Kamp - Nov. 20, 2008

This journalist has been at this a long time and so adds great historical perspective. It is also timely and a call to action for young people to take up journalism as a vocation and not a way to make a quick buck.

A great historical perspective on the decline of investigative journalism as it pertains to consumer protection. Reporters used to help protect the citizen from fraud and bad business practices. But since the 1980's, reporting has turned into advice pieces rather than exposing possible crimes. Just like so many other aspects of Milton Friedmanism, "me" is emphasized over "we".

Diane posted this story.

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4.0

by Naomi Isler - Nov. 20, 2008

It is good inthat it tries to focus on the media's failure to do good reporting on credit issues. Howevr, it devotes only one paragraph to the real problem - that media owners are increasingly corporate (Graham wasn't at the time) and increasingly dependent on other corporations for advertising revenue.

I ws disturbed by the idea that reporting on state government issues was not of interest to the public. You can get anybody interested in anything if you package it properly!

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3.6

by Jan Brown - Dec. 10, 2008

Better than it used to be. It is amazing to see the gutless wonders of the Fourth Estate growing new cajones. Here's hoping to a more intelligent future.

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