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
Serial creators don’t know what will happen to Adnan Syed - New developments in his legal case suggest that the outcome is wide open
The press is responsible for ignoring Bill Cosby rape allegations - Where were journalists 10 years ago when claims originally surfaced against him?
Journalism has a plagiarism problem. But it’s not the one you’d expect - Fareed Zakaria’s case highlights news organizations’ ethical grey areas
4 topics John Oliver explained more clearly than television news - The political satirist brings explainer comedy to HBO viewers
Will radio save science journalism? - WNYC will soon have a new health unit
Email blasts from CJR writers and editors
“[T]here was little that justified CNN’s egocentric coverage”
“[I]n spite of all the good reasons not to use the phrase, it is still very easy to find in the US press, even in headlines”
“Right now, my immediate plan is to go to work as a lay therapist at The Intercept to bring the healing there so John Cook and Matt Taibbi can return. I have great interpersonal skills.”
“Like the US drone program itself, this deceitful media practice continues unabated”
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.