Investment firms whine about coverage

Barry Ritholtz, who writes the Big Picture blog, has had enough of investment firms complaining about their coverage in the business news media.

Ritholtz writes, “Over the weekend, we noted that, according to a recent poll, Goldman Sach’s reputation is worse than even BP’s. Following that, I caught the tail end of a radio interview over the weekend, where some wire house senior executive (didn’t get the name) was complaining about the negative coverage his firm received in the press.

“Really? You think the corporate-owned wimpy US press has been too hard on you? Just because you nearly brought down the entire global economy through your recklessness, then took trillions in taxpayer money as a reward for your irresponsibility, then — instantly — returned to business as usual. Somehow, you think everyone should be going easy on you?

“What an ass.

“Whenever I hear some shill defending the indefensible, I try to hunt down where the PR campaign began. The best i could come up with was this piece in industry journal Investment News in April — where a reporter mentioned the PR pushback he was getting from the big wire house shops PR departments.”

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