Comments on: Business journalism’s image problem http://blogs.reuters.com/chrystia-freeland/2010/08/23/business-journalisms-image-problem/ Sun, 28 Jul 2013 14:34:09 +0000 hourly 1 http://wordpress.org/?v=4.2.5 By: Fmcdermott2 http://blogs.reuters.com/chrystia-freeland/2010/08/23/business-journalisms-image-problem/#comment-143 Fri, 03 Sep 2010 15:57:19 +0000 http://blogs.reuters.com/chrystia-freeland/?p=117#comment-143 Chrystia:
I want somebody of your stature to investigate and report – repeatedly – on two items:
1, the relationship between the finance arm of an industrial corporation and the corp’s reported profits themselves. For instance, the anointed Welch from GE at its height (you remember him: dump the frump, pick up with the adoring lit chick) – how much of his stock price success reflected the GE Financial investments in the phoney derivatives market, and therefore, how much of his reputation is based upon his retirement prior to the crash? There are other corporations, of course.
2.the retention by MSNBC and Fox financial of Bush cheerleaders who were horribly wrong before the crash and are now hostile to the eco regulation from Obama. Unchastened by their monumental misjudgment, they are back with unending, and superficial, bush-era bumper stickers, using their ideology and not basic economics as their touchstones. These are people who should have been fired: Mort Zuckerman (a Madoff dupe, of all things!), Joe Kiernan, and the absolute worst, Kudlow, who began his show in the oughts with a soviet-style paean to George Bush. Anybody on Fox Business would be appropriate.

It seems to me that though differences of opinion should exist for solutions, the basic facts should not be in doubt. Business analysis should be like medical research, where the facts trump, like it or not, any feelings about the facts. These folks that I mentioned like their ideology more than their own personal financial success, the success of any retirement plan, or indeed, the success of the US economy as a whole.

Please investigate for us all.
Frank

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