Should financial media be held accountable for their failure to have warned the public of the current economic downturn? What steps are being taken to avoid this happening in the future?
A panel of leading financial reporters assess the global crisis and discuss the 'perfect storm' of events that led to it. Aspiring journalists will hear how to avoid the perils and pitfalls of the profession, and media observers can decide for themselves if the media is to blame.
With Charles Gasparino, on-air editor, CNBC; author King of the Club: Richard Grasso and the Survival of the New York Stock Exchange; Farnoosh Torabi, correspondent, TheStreet.com TV; Liz Claman, anchor, Fox Business Network; and Alan Murray, deputy managing editor, The Wall Street Journal; executive editor, Journal Online, and WSJ Television. Moderated by Jeff Bercovici, Blogger, "Mixed Media," Portfolio.com.
Cosponsored by the Center for Communication
Jeff Bercovici joined Conde Nast Portfolio from Radar magazine, where he was part of the relaunch team for both the online and print editions. Earlier, he co-edited Women's Wear Daily's media column, Memo Pad, and wrote about arts and music for WWD's sister publication, Scoop. He has also covered the media beat for Folio and Media Life magazines. He is a graduate of Cornell University.
Liz Claman joined FOX Business Network (FBN) as an anchor in October 2007. Her debut included an exclusive interview with Berkshire Hathaway CEO and legendary investor Warren Buffett.
Before joining FBN, Claman served as an anchor at CNBC, most recently anchoring Morning Call and Cover to Cover. During her time at CNBC, Claman has interviewed major financial newsmakers, including Warren Buffett, Commerce Secretary Carlos Gutierrez, and former Treasury Secretary John Snow. She has also anchored Wake Up Call, Market Watch, and Today's Business.
In addition, Claman is the author of The Best Investment Advice I Ever Received: Priceless Wisdom from Warren Buffett, Jim Cramer, Suze Orman, Steve Forbes, and Dozens of Other Top Financial Experts (Warner Books 2006).
Alan Murray is deputy managing editor and executive editor, online, for The Wall Street Journal. He has editorial responsibility for the Journal's web sites, including WSJ.com and MarketWatch and the Journal’s books, conferences and television operations.
Prior to his current position, Mr. Murray was assistant managing editor of The Wall Street Journal, and author of the paper's "Business" column, which runs every Wednesday.
Previously, he served as CNBC’s Washington, D.C., bureau chief and was co-host of “Capital Report with Alan Murray and Gloria Borger." While working at CNBC, he also wrote the Journal's weekly "Political Capital" column. Prior to that, he spent a decade as the Washington bureau chief for The Wall Street Journal.
Mr. Murray joined The Wall Street Journal in 1983, as a reporter covering economic policy. He was named Washington deputy bureau chief in January 1992 and became bureau chief in September 1993. During his tenure as bureau chief, the Washington bureau won three Pulitzer Prizes, as well as many other awards.
Mr. Murray is the author of three best-selling books: “Revolt in the Boardroom, The New Rules of Power in Corporate America,” published by HarperCollins in 2007; “The Wealth of Choices: How the New Economy Puts Power in Your Hands and Money in Your Pocket,” published by Random House in 1991; and “Showdown at Gucci Gulch: Lawmakers, Lobbyists and the Unlikely Triumph of Tax Reform,” co-authored with Jeffrey Birnbaum and published by Random House in 1987. “Gucci Gulch” received the American Political Science Association’s Carey McWilliams Award in 1988. Mr. Murray also garnered two Overseas Press Club awards for his writings on Asia, as well as a Gerald Loeb award and a John Hancock award for his coverage of the Federal Reserve.
Farnoosh Torabi is a personal finance contributor, author, speaker and television guest.
In 2008 she published You're So Money - Live Rich Even When You're Not, a tell-all for young adults searching for financial independence.
Farnoosh recently wrapped REAL SIMPLE. REAL LIFE., a makeover series on TLC, where she helps busy women better understand and manage their financial challenges.
Alan Murray, assistant managing editor of The Wall Street Journal, says people are watching financial news right now because they are angry. “The longest lasting effects of this are going to be the political effects,” he predicts.
Collection, preparation, and distribution of news and related commentary and feature materials through media such as pamphlets, newsletters, newspapers, magazines, radio, film, television, and books. The term was originally applied to the reportage of current events in printed form, specifically newspapers, but in the late 20th century it came to include electronic media as well. It is sometimes used to refer to writing characterized by a direct presentation of facts or description of events without an attempt at interpretation. Colleges and universities confer degrees in journalism and sponsor research in related fields such as media studies and journalism ethics.
Watched it all the way through..from the way Liz describes her career, you would think she grew up in the slums of Mumbai instead of Beverly Hills.
My short review is it is yet more of the same tiresome and self-serving self flagellation reporters are famous for. I do find it ironic that the topic of the forum-the failure of business journalism, gives them a platform to describe their real jobs of kissing CEO ass to get them to come on TV for a softball interview...and how none of their job is, oh, knowing how to read a 10K.
Liz and Baldy are accomplished enough performers to sound convincing to the uninitiated though. I liked how a couple times even their (student!) audience laughed at them.
All in all, not worth the time it takes to watch it.
It maybe true that people are turning to business outlets out of anger but I think she is right in that it is a good thing that people are getting more self-educated. I think either way it is important for people to be educated about this economic problem and yes people will continue to look at the political system and ask what happened. However, I don't think this will draw out the economic problem, if anything I think it will help them to be aware of the concerns and come up with the best plan to regulate the economy and prevent problems in the future.
I don’t understand Alan Mooray’s skepticism on making money through running a blog. Nowadays there so many successful blogs which help journalists and other professionals to earn a decent living. For example, in Technorati’s top 100 blog list there are many companies that pay regular salaries to their staff bloggers. On the other hand, I agree that it is a long process to establish your own blog and to make it profitable.