How perilously close to the abyss we were! Now the question is how will we keep from returning there. In her concluding pages, Tett dips into her training as a social anthropologist and recommends that bankers and regulators take a “holistic” approach to measuring risk and preventing it from getting it out of hand. That, however, is a nebulous catchword. Here is something more concrete: No more off-balance-sheet entities. No more securities so complex top bankers can’t understand them. No more “too big to fail.” No more unlimited leverage and fake capital ratios. And if you take away a single principle from this book, let it be this one: when lending, bankers must have their own skin in the game.
12:12 PM - June 17, 2009
Where Credit Is Due
A Financial Times reporter explores how a JP Morgan invention spurred the financial crisis
Stop using ‘Brooklyn’ to mean hipster neighborhoods - Elite-oriented outlets typically only cover the borough’s most affluent, Manhattan-adjacent neighborhoods
The Reporters Committee is about to start suing people to help journalists - Katie Townsend joins the organization as its first litigation director
How a Nebraska newspaper kicked off a major prison sentencing scandal - The Omaha World-Herald found that hundreds of inmates were being released early
On media freedom, United Nations plays by its own rules - Months of international crises raises the stakes for reporting on the UN, but investigative journalists remain without a right to information
Keep calm and write a headline worth reading - Ease up on the exaggerations because someday you may need those explosive adjectives when a truly big story lands
Email blasts from CJR writers and editors
Apple included language in its first Transparency Report to say that it had not been subject to a Section 215 Patriot Act request. That language is now gone.
Buzzword, buzzword, buzzword. Isn’t the buzzword on your mind now? Perhaps it is on other people’s minds? Read on or you’ll be clueless, dated, and without any friends in the world. Buzzword again!
The British reporter-turned-editor has made good on her promises to bring politics to the magazine, win some very big-deal journalism awards, and secure the most interesting exclusive interviews
From Guatemala to New Haven, and still in limbo
Greg Marx discusses democracy and news with Tom Rosenstiel of the American Press Institute
Who Owns What
A report from the Columbia University Graduate School of Journalism
Questions and exercises for journalism students.