Mainstream Financial Coverage as Shameless Propaganda

[HotRocks]

Nothing we don't all know, but a nice little summary of just how vacuous the financial reporting in the MSM has become: MSM Reporting as Propoganda.

In fact the dichotomy between the economic health of ordinary people and the traditional “market indicators” is not merely a non-story, it is a sort of taboo — unmentionable in major news coverage.

...The media dares not say anything too negative about financial services firms or their government operatives lest they lose access. The private sector has learned the lesson of the Bush Administration, that the threat of freezing a reporter out is a powerful weapon. I have had some well connected readers tell of story ideas that they served up in some detail that the media would not touch out of fear of alienating their sources.

[mtlouie]

Yeah, no surprises here.