Today has seen the assorted wonders of our financial media, Jeff Randall (SKY), Robert Peston (HM Treasury), Alex Brummer (Daily Mail) and Lionel Barber (FT) brought before a treasury committee be grilled by MP's over their role in the economic disaster that has befallen us.
Some brief highlights / reactions.
- Brummer said the Daily Mail was laughed at for year about House Price Stories (surely not?). I am unsure as to whether a stopped clock is right twice a day or whether they actually need an apology from us all for laughing for so long.
- All of them claim to have seen this coming and warned everyone. Perhaps in future financial media will be more respected. For once I think this is both outrageously self-serving and true.
- Against bank PR machines, they stood no chance. Banks would deny the truth up until they were proven to be lying. This is also true and says alot about what we should think about what banks are still telling us today...
- The committee said blogs have lowered the standard of media reporting. Peston apart, they all agreed somewhat. How very dare they! The opposite is true, blogs post and muse in a way a salaried journalist never would.
- To end on Randall was definitive when asked about the future, the others prevaricated. Rather ruins some of the better points they made earlier to obscufate when actually asked a real question.