Posts filed under “Financial Press”
Why so skeptical?
I hear that question way too often. The short answer is that after a few decades on Wall Street, you learn that when
a lot of any money is at stake, people quite easily become completely and totally full of bullshit.
This is why I (to quote someone else) "consistently doubt everything, especially government and mainstream media, and asks questions that have readers asking their own questions."
The most egregious example in recent memory landed on the front page of the Sunday NYT:
Hidden behind that appearance of objectivity, though, is a Pentagon
information apparatus that has used those analysts in a campaign to
generate favorable news coverage of the administration’s wartime
performance, an examination by The New York Times has found.
The effort, which began with the buildup to the Iraq
war and continues to this day, has sought to exploit ideological and
military allegiances, and also a powerful financial dynamic: Most of
the analysts have ties to military contractors vested in the very war
policies they are asked to assess on air.
Those business relationships are hardly ever disclosed to the
viewers, and sometimes not even to the networks themselves. But
collectively, the men on the plane and several dozen other military
analysts represent more than 150 military contractors either as
lobbyists, senior executives, board members or consultants. The
companies include defense heavyweights, but also scores of smaller
companies, all part of a vast assemblage of contractors scrambling for
hundreds of billions in military business generated by the
administration’s war on terror. It is a furious competition, one in
which inside information and easy access to senior officials are highly
Go read the full article — but not on a full stomach . . .
Behind Military Analysts, the Pentagon’s Hidden Hand
NYT, April 20, 2008