Tag Archives: financial crisis

FT.com: Lionel Barber on financial journalism and the economic crisis

Financial Times editor Lionel Barber asks whether the media should have foreseen the global financial crisis.

At the beginning, says Barber: “Most reporters working in this so-called ‘shadow banking system’ found it hard to interest their superiors who controlled space and who were more interested in broadcasting the ‘good news’ story of rising property prices and economic growth.”

While journalists were not the only ones to ‘fall down on the job’, there were four key weaknesses in the media’s coverage of the economy in the build-up to the crash (he goes on to outline these).

But, he adds:

“Many of the most important developments of the past decade (…) have largely been unanticipated or failed to attract the attention they deserved. Journalists, in this respect, have a crucial role to play. Flawed they may be, but they still have the capacity to be the canaries in the mine. Long may it be so.”

Full article at this link…

ThisisMoney.co.uk sees traffic surge in economic downturn

Another site profiting (well, in terms of traffic anyway) from the current economic situation: Northcliffe’s ThisisMoney.co.uk posted record traffic figures last month.

According to a blog post from the site’s assistant editor Adrian Lowery, ThisisMoney recorded a 23 per cent month-on-month rise in unique users to 1.66 million unique users last month.

Page impressions rose by 43 per cent from September to 14.17 million.

While many financial news sites saw traffic spikes during October, TiM’s coverage of the Icesave issue and the UK banking crisis drove users to the site, Lowery added.