Saturday, September 26, 2009

Goldman Sachs has virtual monopoly on media--Taibbi, Rolling Stone

Taibbi, Rolling Stone: "I’m aware that some people feel that it’s a journalist’s responsibility to “give both sides of the story” and be “even-handed” and “objective.” A person who believes that will naturally find serious flaws with any article like the one I wrote about Goldman (Sachs). I personally don’t subscribe to that point of view. My feeling is that
for every one reporter like me, or like far more knowledgeable critics like Tyler Durden,
  • and ledes of the major news organizations.
And there are probably another thousand poor working stiffs who are

(how many political reporters with no experience reporting on financial issues have swallowed whole the news cliche about Goldman being the “smart guys” on Wall Street? A lot, for sure).

  • Goldman has its alumni pushing its views
  • the NYSE,
  • the World Bank,

and numerous other important posts; it also has former players

  • They have the ear of the president if they want it.

Given all of this, I personally think it’s absurd to talk about the need for “balance” in every single magazine and news article.

  • I understand that some people feel differently, but that’s my take on things." 6/30/09, "On Giving Goldman a Chance," by Matt Taibbi, Rolling Stone

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