Bad News

When the financial crisis unfolded, journalists struggled to keep up with the biggest story of the century as they raced to cover an unfamiliar cast of characters and toxic financial instruments. In the midst of this collapse, the business of journalism itself hit the rocks, as mainstream media grappled with collapsing revenues and falls in circulation. Accused of spreading news which helped create the bubble, the business media came under siege from commentators across the political spectrum. Did the press fail in its critical role by giving into the exuberance of the system?