Latest Issue

The hacks must try harder

How the mainstream media was beaten by bloggers in setting the agenda

By Felix Salmon   September 2009

Have financial journalists had a good crisis? Some certainly made their names, like BBC business editor Robert Peston, an old-fashioned scoop-getter with good sources. In September 2007 he not only broke one of the biggest stories of the crunch—the Bank of England’s emergency support for Northern Rock—but arguably triggered Britain’s first bank run since 1866.

Others emerged as powerful commentators on financiers’ failings. In the US, a Rolling Stone article in July 2009 by political writer Matt Taibbi about Goldman Sachs started with a bang, likening the firm to a “giant vampire squid wrapped round the face of humanity, relentlessly…

Register today to continue reading

You’ve hit your limit of three articles in the last 30 days. To get seven more, simply enter your email address below.

You’ll also receive our free e-book Prospect’s Top Thinkers 2020 and our newsletter with the best new writing on politics, economics, literature and the arts.

Prospect may process your personal information for our legitimate business purposes, to provide you with newsletters, subscription offers and other relevant information.

Click here to learn more about these purposes and how we use your data. You will be able to opt-out of further contact on the next page and in all our communications.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

We want to hear what you think about this article. Submit a letter to

More From Prospect