Tuesday, April 20, 2010

Media Covering Politics Instead of Substance

Now the media is floating the idea that the SEC charged Goldman Sachs with fraud for political reasons--to pass financial reforms. At first the media was hollering that the Obama administration wasn't doing enough on financial reforms.
What we have here is a banking/investment system that is complex and a media that is largely uniformed, ignorant.
The media is clueless as to what is going on in the banking industry, clueless to business and financial matters. It's always been clueless, and so it covers the politics instead of the substance because the politics is easy and the substance would take some work.
We have a second rate media that can't figure out where the truth lies.

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The Today Show insinuates that a Google search of SEC and Goldman, leading to a paid advertisement for barackobama.com, proves that charges against Goldman are politically motivated. That's ludicrous.

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