Bad News: How America 's Business Press Missed the Story of the Century (Large Print 16pt)

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ReadHowYouWant.com, Dec 3, 2010 - Financial crises - 396 pages
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As the recent U.S. financial crisis unfolded, journalists struggled to keep up with the biggest story of the century. After the markets unraveled and the economy began spiraling downward, reporters raced to cover an unfamiliar cast of characters and an alphabet soup of derivatives and toxic financial instruments. And in this midst of this collapse, ironically, the business of journalism itself hit the rocks, as the mainstream media grappled with collapsing ad revenues and falls in circulation. Faulted for cheerleading coverage that helped create the bubble, the business media came under siege from commentators across the political spectrum - epitomized by Jon Stewart's now - famous attack on James Cramer for his uncritical coverage of Bear Stearns and other financial giants. Did the press fail in its critical role as it gave into the irrational exuberance that fed the bubble itself? How do we explain these failures? The role of the business press in the current crisis strikes at the heart of the heated debate about the media's role as guardians of our democratic society. With contributions - all but one original - from leading journalists and academics at the forefront of this issue, Bad News is the first attem to navigate through a controversy that will be studied for decades to come.
 

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BAD NEWS: How America's Business Press Missed the Story of the Century

User Review  - Jane Doe - Kirkus

The story of the century—the 21st, that is—is the ongoing financial crisis that has threatened to bring the developed world to its knees. Why business writers didn't see it coming is the big ... Read full review

Contents

THE U S PRESS AND THE FINANCIAL CRISIS
1
THE MEDIA AND THE CRISIS AN INFORMATION THE ORETIC APPROACH
37
POWER PROBLEM THE BUSINESS PRESS DID
61
THE FINANCIAL PRESS ITS NOT AS BAD AS ITS REPUTATION
89
9
95
MOMENT
116
CRISIS
153
LIKE?
295
NOTES
336
FLAP
377
FLAP
379
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About the author (2010)

Anya Schiffrin is codirector of the media program at Columbia University's School of International and Public Affairs. She was the editor in chief of the Istanbul-based daily the "Turkish Times," a stringer for Reuters in Barcelona, senior financial writer at the "Industry Standard" in New York and bureau chief for Dow Jones Newswires in Amsterdam and Hanoi.

Amer Bisat is a hedge fund manager focusing on emerging-markets bonds and was previously a portfolio manager at UBS and Morgan Stanley and chief emerging-markets economist at Salomon Brothers in Europe. He has also been a senior economist at the IMF, where he worked on the economics of Russia, Egypt, and Cameroon, and he has published widely on growth, the financial sector, and Middle East economics.

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