Salmon: Journalists shouldn’t be blamed for failing to expose banks before financial crisis

“There’s a reason why the journalism comes out after, you know, the 2000 stock market crash, after the 2008 financial crisis — because at that point we want someone to blame. If you do the journalism beforehand, nobody cares. … It’s only when you’ve got something meaty, and you have a narrative with the rise and fall of this thing that it suddenly becomes a story.”

Felix Salmon, Reuters business writer

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  • Anonymous

    Sorry:

    Mr. Salmon SPECIFICALLY [not Mr. Salmos}

    IN the paragraph quoted above, Mr. Salmon …

    Proof before you click!

  • Anonymous

    Whoever picked this quote and wrote the headline takes the quote out of context and thus misrepresents what Mr. Salmon was trying to say by giving the impression that Mr. Salmon was absolving ALL journalists.

    Mr. Salmos SPECIFICALLY makes a distinction between business journalism and public interest journalism. The paragraph quoted above, Mr. Salmon is discussing business journalism. The next paragraphs in the article more accurately represent what he was trying to get across.

    “Business journalists could write about the lead-up to the financial crisis only after it had happened, Salmon said.

    “It’s only when you’ve got something meaty, and you have a narrative with the rise and fall of this thing that it suddenly becomes a story,” Salmon said.

    He added that no one reads business journalism anyway.

    “If you want public-interest journalism, if you want to interest the public, you don’t want to put it in the business section,” Salmon said. “The business section is the first section that they throw away.”"

    To cherry-pick that paragraph and post is bad enough. But to create that headline is not something I think worthy of being posted at Poynter.

    Not to mention that there were plenty of true journalists and media outlets raising flags about the oncoming crisis. They were just ignored, marginalized and even ridiculed by the Main Stream Media.

  • Anonymous

     Oh puh-leez.  The financial and business journalists, which are legion, utterly blew it.