LEX First, it was short-sellers, then fair value accounting and now the media.
As the search for scapegoats for five years of bad banking intensifies – even the Queen wants to know why no one saw the credit crunch coming – it was inevitable that financial journalists would be dragged into the stocks. With a Treasury select committee deliberating whether to impose reporting restrictions during banking crises, the risk of regulatory creep is rising. It is a sign of the times that Richard Lambert, director-general of the CBI, an employers’ body, has slammed the Press Complaints Commission, a self-regulatory body, for failing to ram home the “special responsibilities” on business journalists in such times.
