The Boston Globe Covers Up for Wall Street, Ignores Swaps Losses in Coverage of MBTA Turmoil


Naked Capitalism has the story The Boston Globe Covers Up for Wall Street, Ignores Swaps Losses in Coverage of MBTA Turmoil.

The omission of how the MBTA was fleeced in a story that focuses heavily on financial mistakes lets Wall Street off easy. And the Globe has no public editor or ombudsman to take complaints about this gaping hole in its account. So much for its commitment to journalistic ethics.

Particularly if you are in Massachusetts, please call or e-mail the Globe’s managing editor for news, Christine Chinlund and tell her the Globe is showing bias by ignoring the role of Big Finance in the MBTA’s tsuris.

Chinlund’s e-mail is: chinlund@globe.com and her phone is 617 929-3134.

The other approach is to show up the Globe by getting the word out through social media. Tweet this post and link to it on FaceBook. If the press refuses to do its job, it’s time for the Web-savvy to do it for them.

If you read or heard about the article in the Globe and erroneously thought you knew how the MBTA got into trouble, then read this article in Naked Capitalism. If you think of yourself as an informed voter, but get your information from “reputable” sources such as The Boston Globe, then you may have to rethink what you think you know. Just keep in mind who now owns the Globe when you read stories in praise of Wall Street. Of course it is difficult to even guess you are being bamboozled when the nefarious hand of Wall Street is not even mentioned in a story.

Maybe some compromise between the Wall Street Republicans and the Wall Street Democrats can figure out what to do with the rampant fraud by Wall Street bankers (not banks). A bank does not commit fraud, but bankers who run the banks do.

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