Categories: OLD Media Moves

Covering the ethics, or lack thereof, in banking

Rick Thames, the editor of the Charlotte Observer, writes Sunday about how the paper’s business news desk has been covering the thorny issue of ethics in the banking industry.

Thames writes, “The ethics factor has been on the radar of the Observer’s business news team for quite a while.

“‘The various hearings and numerous settlements, lawsuits and civil charges alleging fraud cried out for an examination of the behavior of individual bankers,’ said Observer Business Editor Patrick Scott. ‘Mostly, executives spoke only in passive terms that ‘mistakes were made’ and the industry as a whole got off track. There was little soul-searching on display.’

“Scott and his team decided to take on the topic as the fourth installment of our series, ‘Banktown: Two years after the meltdown.’

“Earlier installments assessed the impact of the banking meltdown on Charlotte and explored efforts to rebuild the city as more than just a financial center. You can read the entire series at CharlotteObserver.com/business.

“Banking reporter Christina Rexrode tackled the installment on ethics, which appeared last Sunday. It proved particularly difficult. For one thing, little has been written or said about this issue, even nationally. There were no reports, seminars or studies to rely on.”