Lenders blame business media
American Public Media’s “Marketplace” show had an interesting segment Monday about the problems of subprime lenders, and it noted that many in the industry are blaming the media for their issues.
Here is the text:
Dean Starkman watches the business media for the Columbia Journalism Review. He says the bankers are exaggerating.
DEAN STARKMAN: Yeah, there’s a lot of bad news in the mortgage business. I’m not sure I see where anyone’s crossed the line, frankly.
That doesn’t mean the media’s off the hook. Starkman says journalists have a special responsibility on sensitive stories to not succumb to any bandwagon effect.
STARKMAN: One guy says subprime slump, the next guy says subprime crash, and the third headline is subprime implosion. You know, just make sure that that’s supported, that’s all.
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