The mainstream American media is suffering from financial pressure, but more worrisome is that its quality has gone downhill. The major news organizations are failing in their coverage of the big stories. More people turn to sources like Wikipedia and blogs.
I’m not the only one who says so. Ryan Chittum, writing on the Columbia Journalism Review’s blog, pointed out that thin coverage and the back-paging of front page-worthy stories is a real problem for the New York Timesand the Wall Street Journal:
The Journal, which scored recently by bringing David Reilly back into the fold after a stint at Bloomberg, posts a Reilly news article looking at the culpability of Lehman auditor Ernst & Young. The paper dumps it on C7. The NYT has on the same angle—a very good one to examine closely—and slides it inside on B2.
Somehow the Times thought more people would care about Sorkin’s scoop on a $3 billion deal for Tommy Hilfiger or that it was more important than an auditor approving accounting fraud. They don’t and it’s not.
Look, I know that Lehman collapsed a year and a half ago, but this is a major story—one that finally gets awfully close to putting the crimes in the crisis. I’ll go ahead and say it: If you’ve wanted to know about the Valukas report and its implications, you’ve been better served by reading Zero Hedge and Naked Capitalism than you have The Wall Street Journal or New York Times. This on the biggest financial news story of the week—and one of the biggest of the year. These papers have hundreds of journalists at their disposal. The blogs have one non-professional writer and a handful of sometime non-pro-journalist contributors.
Chittum, from his perch at the CJR, points to several Lehman stories that blogs broke that should have been broken by the big outlets if they had just…read the Lehman report.
More evidence of the news organizations failing jumped out at me in thisWashington Post story about a persuasive healthcare speech President Obama gave today in Ohio. Reportedly, some Republicans voters were swayed enough by the President to give it a try:
Still, not everyone has a firm opinion, and many admit they have a limited understanding of the details. Voters often say they are not sure whom to believe, offering a version of a comment by Patrick O’Toole, Mary Jo’s husband: “You hear this from one side and that from the other side, and you don’t know what’s right.”
Overlooking Obama’s shortcoming for not not hammering out these speeches much earlier and more often, Patrick O’Toole points to a media failure. Too many media outlets are following the Fox News approach, which is to have no standards for who they put before your eyes. There is weak critical analysis of what is said, so the news story is ultimately the talking point barked, when the story should be the talking point supported or debunked. The consequence is an electorate exemplified by Mr. O’Toole.
Standards have eroded across the board; two months after Betsey “Death Panel” McCaughey was shown on Jon Stewart to have no basis for what was dubbed Lie of the Year, she wrote another column about the healthcare bill for the Wall Street Journal. It was not accompanied by an editors note cautioning, “This woman can’t find her facts in the bill she is writing about, she just believes they exist.”












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