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
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It does not escape our notice that among the investment tools that prompted the apparently and thoroughly quashed credit crisis were "structured investment vehicles" -- or SIVs. These "instruments" allowed big banks and brokerages to load up on inferior debt and make tons of money trading it all over the place (as best as we can understand it -- and we doubt many behind these tools can understand them either). That such clever tools have such an apt name suggests that, regardless of the success of the permanently upward stocks (now joined once again by the BUGMEISTERS, who seem completely oblivious to STEVEDOM's market share), they could sneak up on us and bite us in the behind.
But then we never heard of subprime mortgages before the Babbitts made them trendy either.