Chapter 14. Media Munchkins and Masters: Separating Puff Piece Writers from Hard Diggers
“There is no real penalty for being wrong; the journalists, the commentators, and the analysts blithely chalk up their mistakes to the market’s unpredictability and quickly turn to the next day’s haul of hot information. It is a mutual manipulation society that affects anyone with a direct or indirect stake in the market, which is to say nearly everyone in America.”
|--Howard Kurtz in The Fortune Tellers: Inside Wall Street’s Game of Money, Media and Manipulation, 2000 (The Free Press)|
News reports about the results of Qwest Communications International’s results for the fourth quarter of 2000, published in January 2001, almost uniformly focused on the telecommunications ...