Media Talk: Predicting the Crash
In recent weeks, increasing criticism has been leveled at the media over failure to provide adequate warning of the impending economic turmoil, as well as accusations of sensationalist coverage. Did the media fail in its scrutiny? Or are the workings of international finance now so complex and secretive that the media can no longer provide effective oversight?
We ask some of the journalists and commentators who have been credited with providing early warning of the collapse of the markets for their assessment of where the global economy will be in twelve months as well as asking them to reflect on the media’s role in the crisis.
Paul Lashmar is an investigative journalist and is currently undertaking a research project into the reporting in the UK of the sub-prime market prior to August 2007 for publication in Journalism Practice. He writes for various newspapers including the Independent on Sunday, The Guardian and The Evening Standard, and his specialist areas include terrorism, intelligence, organised crime, offshore crime, business fraud and the Cold War.
Paul Mason is Newsnight’s Economics Editor with a brief to cover an agenda that he sums up as: "profit, people and planet". He is also the author of Meltdown – The End of the Age of Greed which will be published in Spring 2009 by Verso.