THE NEWS HACK'S CREED:
I know more than you.
I make lots more money than you.
I'm smarter than you.
I'm sexier than you.
I appear on TV all the time.
I work ten minutes a day.
I rule the universe.
I'm going to live forever.
You are an idiot.
THE NEWS HACK'S CREED, No. 2:
A lie isn't a lie when it tells THE TRUTH.
THE NEWS HACK'S CREED, No. 3:
I've come to realize that the looseness of the journalistic life, the seeming laxity of the newsroom, is an illusion. Yes, there's informality and there's humor, but beneath the surface lies something deadly serious. It is a code. Sometimes the code is not even written down, but it is deeply believed in. And, when violated, it is enforced with tribal ferocity.
--JOHN "OMERTA" CARROLL.
THE NEWS HACK'S CREED, No. 4:
News isn't news when we don't report it.
PERMALINKS:
THE NEWS HACKS' DICTIONARY
THE EUGENE DAVID GLOSSARY
AMERICA'S MOST UNINTENTIONALLY FUNNY WEB SITE!
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Three important lessons emerge from the media's coverage of Enron, say Dyck and Zingales. First, "that while many transactions were concealed, there was enough public information available to raise serious doubt about the credibility of Enron's earnings". Second, "that instead of scrutinizing Enron's accounts, [the media] acted as cheerleader all the way to the end." Third, journalists who "question the existing optimistic consensus incur constant harassment from the target company." While the rewards of reporting bad news are little different from reporting good news, the costs are very different, especially in bubbles.
TRANSLATION: LOLLIPOP LOU DOBBS ALL THE WAY.