Andrew Ross Sorkin: “Wall Street’s Most Valuable Flack”

March 1, 2014 at 4:46 PM Leave a comment

If you read the New York Times‘ blog DealBook or watch Andrew Ross Sorkin on CNBC’s “SquawkBox” and you think he has you in mind when he does his reporting, think again.  The so-called “journalist” Sorkin is about as in bed with Wall Street as you can get.

Andrew Ross Sorkin via Wikimedia Commons

(Image via Wikimedia Commons)

One great problem with financial journalism, especially in the decades leading up to the crash, has been that it’s often written in an argot understandable only to the already highly financially literate. Sorkin doesn’t usually employ such specialized language. This has led to the mistaken belief that he’s explaining the industry to regular people. In fact, he is a dutiful Wall Street court reporter, telling important people what other important people are thinking and saying. At the same time, he is Wall Street’s most valuable flack. He isn’t explaining finance to the people—you’d be better served reading John Kenneth Galbraith to understand how finance works—he’s justifying it.

[…]

Our subprime lenders proved, in the final analysis, too big too fail; and now, certain of our name-brand financial writers are too big to practice journalism.

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Entry filed under: Corporatocracy.

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