Brauchli defends media's pre-Wall Street crisis work

A number of public policy and media experts told PRWeek that they expected more form the media, at least in terms of educating...

A number of public policy and media experts told PRWeek that they expected more form the media, at least in terms of educating consumers, in the lead-up to the ongoing financial crisis.

Former Wall Street Journal and new Washington Post editor Marcus Brauchli disagrees, according to a report in Editor & Publisher. Note that Brauchli points out the work of newspapers, not broadcast programs, which were mostly blamed for both hyping financial issues and demanding the federal government immediately remedy them.

“There was a lot of coverage over many yeas about the underlying problems in the financial system and the economy,” he told E&P. “If you go back and look at the big American newspapers, you will see it, going back to 1996 when Alan Greenspan coined the phrase ‘irrational exuberance.’”

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