Journalism grows slack when it fails to ask questions. . .Its curiosity is like sex – use it or lose it.
What’s the point of journalism, if not to ask questions?
The Media delved into Gov. Sarah Palin’s Alaskan past. Her Republican presidential running mate complained about the background check. And that political tactic now seems stronger than journalistic curiosity.
The reportage wanes as the Palin phenomenon waxes stronger.
Reporters also seem to have used up their quota of inquiry on politics just when we need answers about economic issues..
They need to ask if Americans really want Uncle Sam as a landlord.
The case for Treasury takeover of Fannie Mae and Freddie Mac sure seems compelling.
The Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation are a mess. Heads had to roll along with any other cliché that would clean up the government-sponsored secondary home mortgage market.
We don’t yet know for sure if the debacle in the total pubic and private securitized loan market will bring down the American economy.
So the government had to reform the two federally backed agencies that own half the mortgages in the nation.
But insuring the market is different from owning it.
We have just socialized mortgages in this country.
And the Press is asking fewer questions than about The Bridge to Nowhere that connects falsehood with Gov. Palin’s claim to reform public works.
For decades we’ve resisted socialized medicine.
Even now Sen. John McCain, the GOP presidential candidate, campaigns against letting a federal bureaucrat stand between my doctor and me.
So why would I want a government clerk overseeing where I lay me down to sleep?
That’s neither a conservative nor a liberal question. It’s something sensible for The Press to ask as surrogate for ordinary, everyday folk.
Yes. Something had to be done about Fannie Mae and Freddy Mac. And quick.
The swift and sure government action, however, has the look of forever about it.
Why isn’t there a sunset provision built into the takeover? Then the government could fix the problem and get out of the mortgage business, returning it to private or quasi-private enterprise.
But the business pages and Wall Street programs on TV aren’t asking that question.
Journalism grows slack when it fails to ask questions.
Its curiosity is like sex – use it or lose it.
Can’t fool Washington. It’s just slow on the uptake.
Word-of-mouth is humankind’s oldest form of communication.
Dame Rumor flies, wrote ancient poets such as Virgil. Truth is a pedestrian.
The feds were bound to get around to investigating that hare and tortoise race.
The Securities and Exchange Commission wants Wall Street to stop spreading false information.
Lots of luck with that.
Those turkey buzzards of day trading, the short sellers, make a living from bad information and misinformation and disinformation. They borrow stock at a high price to sell low and pocket the difference.
The shorters naturally benefit if gossip hurts a company on the Exchange while they hold its paper.
Speculation flitted right behind rumor out of Pandora’s box.
Journalism could tell federal regulators all information is baseless until verified.
But fact-checking is a tedious process that suffers when a reporter is close to deadline and when the financial world is in near panic mode as it is lately.
So we shouldn’t be cynical either about editors’ stern warning to authenticate or the SEC’s crackdown on illegal trading practices.
Realism simply tells us rumor mongering is a never ending story, with us always.
The wagging tongue as way-of-life is how vast numbers of non-readers of newspapers and non-watchers of TV are getting their news these days. Much of the news actually is commentary if not downright gossip.
Abandon all hope for straight poop as you enter the blogosphere. Yes, this blog is an outpost in the vastness of cyberspace too.
That’s why you see my name, my picture, my bona fide credentials listed – the stuff of credibility, the eternal enemy of rumor.
Trusted sources: That’s what professional journalism is all about, regardless of media platform.
The government might defeat rumor in the marketplace. Not likely. But it might. The weapon would be instantly available truth, denial, explanation to counter every whisper.
But that would require government, corporations and the financial world to be quick with credibility too.
Every reporter knows those institutions trade in deception and withheld information and controlled flow of news.
So short sellers and average citizens take rumors for granted.
Credible journalism can’t. That’s why there’ll always be a market for honest reporting.
Uphill battle that it is with Dame Rumor whispering in your ear.
