Marylynne Pitz of the Pittsburgh Post-Gazette interviewed New York Times business journalist Andrew Ross Sorkin about the current economic crisis and asked him about whether business journalism did its job.
Pitz writes, “‘Part of our job, arguably, is to blow the whistle. Therefore, we didn’t blow the whistle loud enough,’ the author said. ‘If you look back, there are plenty of stories about how the mortgage market was overblown back in 2004 and 2005.’
“But in boom times, those stories are often ignored.
“‘It’s hard to capture the attention of the American public with doom and gloom when everything is going up,’ Mr. Sorkin said. ‘Everyone is so scared they are going to miss the train.'”
Read more here.
