Robert Peston was doing a live OB from the bottom of his back garden this morning
I was interested by Marr's remarks that some newspapers have been saying Peston's reports have been 'hyping up' the crisis, and therefore he should be careful what he says and reports.
I must say, this worries me too. I've said it in here before, if the BBC hadn't given his Northern Rock scoop such prominence, would there have been the queues of people outside next morning withdrawing their money, and would the bank have collapsed ?
Reporting in the 'Public Interest' may not necessarily be a good thing ?
Robert Peston was doing a live OB from the bottom of his back garden this morning
I was interested by Marr's remarks that some newspapers have been saying Peston's reports have been 'hyping up' the crisis, and therefore he should be careful what he says and reports.
I must say, this worries me too. I've said it in here before, if the BBC hadn't given his Northern Rock scoop such prominence, would there have been the queues of people outside next morning withdrawing their money, and would the bank have collapsed ?
Reporting in the 'Public Interest' may not necessarily be a good thing ?
Discuss.
I think the newspapers are much more guilty of this.. HOWEVER I don't doubt that Mr Peston is incredibly knowledgeable about what he talks about but I think his reporting style is often hammed up for the sake of it. It may be trying to make this financial crisis more "relatable" but it does come across as hyping it up. Comments like "diving back under the duvet" and "the worst day for the economy ever" are perhaps a little unnecessary.
Compare his 'rants' to some of the excellent and measured reports from the likes of Greg Wood and Hugh Pym then I don't think he's cutting the journalistic mustard.
He's certainly no Evan Davis that's for sure - but when you cut through the crap he does have a nice way of summing things up.
A complex issue, but something the papers themselves are guilty of far more often than the BBC.
The significant difference is that papers carry yesterday's news - the markets may tumble first thing in the morning, but rally during trading as the day wears on. Those reading a newspaper's coverage of market instability will at least see the totality of a day's trading and events. By no means am I saying the papers aren't give to dramatic headlines, but the immediacy of a television news channel has much more impact.
The coverage on Friday morning on the BBC was nothing short of hysterical. The sharp drop in the FTSE was being covered minute by minute - and by 9am some clients of the financial office I'm currently working in were desperately seeking to encash investment bonds in response to what they were hearing.
Ironically, moments like Friday morning are the best time to invest if you're looking at the medium to longer term; but you wouldn't realise that from the tone of the reporting on the BBC.
Its difficult, of course, for anyone to know what will happen in the future; but markets tend to correct themselves over time. If you were to take the BBC reporting on the face of it, you would be forgiven for thinking we are about to fall into melt down.
I have great sympathy with those planning to retire in the near future, and have felt compelled to encash or surrender their policies on the strength of television news reporting. In many cases they will get less back than they originally invested.
I don't think its wrong for the BBC to report on the events as they happen - but there must be balance between reporting frightening headlines 24 hours a day, and some level-headed, sound financial advice.
The Newswatch item refered to Robert being the first to report the £500bn rescue plan, the day before it was officially announced. I don't see what the problem is, to be honest. BBC News are guilty of preempting stories all the time - how often do you hear "So and so is
expected
to announce later today..." for instance.
I don't think the media are hyping it up that much either. The International Monetary Fund said yesterday, "The world's financial system is on the brink of systemic meltdown," and during a speech the head of the World Bank said, "The contagion affecting the global economy has been a manmade catastrophe." Even Gordon Brown was quoted as saying something along the lines of 'This is make or break time for our economies' on the News Channel yesterday afternoon.
Did anyone watch that BBC News Special about the financial crisis on Monday, on BBC World News? It was really good. It had its own opening sequence, with a change in the music. It was a two hour special. Did anyone watch it?
They even presented Hardtalk live.
Did anyone watch that BBC News Special about the financial crisis on Monday, on BBC World News? It was really good. It had its own opening sequence, with a change in the music. It was a two hour special. Did anyone watch it?
They even presented Hardtalk live.
Yes, it was indeed a good live broadcast, Mohammed. What I found incredible though was the fact that Nik Gowing was anchoring live from Mumbai for several segments throughout the day and just 15 hours later, he was behind the newsdesk in London anchoring WNT in his regular slot the next day!!
He must have used the amazing flatbeds that BA, Virgin or Air-India have on their Bombay to London sectors. LOL.
Mishal Husain wasn't back for her segment the following day.
Peter Dobbie has been a good fill-in this midweek too.
