I was surprised how many sites linked to my little diatribe on How to Fix Financial Television last week. There were a wide ranging assortment from market blogs to Fortune to Crooks & Liars; Even Forbes reran the entire piece.
Dear John Thain had a good post on the subject this weekend, Making the Financial Networks Useful:
“Go beyond soundbites and short on-air segments. I think finance is much more complicated than normal news, in the same way that political news usually is more complicated: there are lots of underlying dynamics, complex rules, and large parts of the process are hidden from view and established through precedent. Unlike a plane crash, terrorist attack, or story about some zany celebrity antic, financial news that focuses on the “what” instead of the “why” is dull, uninteresting, and useless. This is why financial news, in the first place, tries to explain what’s going on.”
Dear John Thain anonymously writes the blog of the same name. He focuses on finance and has worked in various areas within Wall St.’s bulge bracket. He has worked in various products, but has spent the majority of his career working in securitized products.