As I’ve said before, we like deals (and, for that matter, inside-Wall Street-coverage) as much as the next financial-media-critic blog. But business journalism is much bigger than that.
Most business reporters know what I’m talking about, even if the cynics don’t. It is the reporters who have to operate inside the invisible fence that defines what is and isn’t a business story, and they have every interest in widening the field. They’re ready for a new direction. All it takes is leadership.
And so it is true, we have a big bone to pick with the business press, especially when it comes to its coverage of Wall Street. So should all readers.
But let me say this in defense of the mainstream bizpress, including and especially my former colleagues at The Wall Street Journal, which, as the financial media’s flagship and agenda-setter, has come under some of our toughest criticism: whatever our differences, they make their arguments, if sometimes heatedly, on the merits, without cheesy speculation as to motive. Maybe they assume we argue in good faith. Maybe they think we might have a point. Or maybe they’re just pros.
Kantrow and The Deal go a different way. They don’t like The Audit. That’s clear. It makes sense, and it’s all right with us.