MA & PhD in Critical Thinking Blog

January 8, 2010

The Media & the Market / Place II: NYTimes Xmas “Gift” to Goldman Sachs

Filed under: Minerva School — Dr David Caploe @ 9:10 am

In this second in a three-part series of the interpenetration of media and the world political economy,

we lay out in detail the different ways companies manipulate media by timing release of bad news they want to say “well, we DID tell you,” while hoping that no one sees it.

In that context, we look at how the New York Times “buried” – by publishing on Xmas Eve –

a crucial expose of how TBTF banks like Goldman Sachs sold debt packages they knew were bad while simultaneously “selling short” against those same packages.

We then say this is a perfect example of the “double game” media organizations play with companies they are allegedly watching over “in the public interest” by keeping bad news about them as “invisible” as possible …

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