The dogs in question are those fearless, fearsome financial reporters of the BBC. Cutting edge, dramatic, provocative - no. Compliant - yes. Contrast the BBC take on the current international financial scandal with views from France and the USA.
In the BBC corner we have Evan Davis talking with some business representatives on his 'The Bottom Line' business programme. Then we have Robert Peston writing in his blog and Stephanie Flanders in her column bizarrely titled 'Moving in the right direction'.
Their view is that the silly regulators must have got it wrong, they simply did not realise what was happening! And the poor bankers, bless them, got a bit over-excited and lent out too much money! That's it - nothing criminal or intentional there - it just turned out badly and could not be helped!
When confronted with this view, words almost fail me, and I get a deep insight into apoplexy and rage. Thank goodness for the internet - it brings succour in the form of other, saner and more explicit views.
For example, in France, on the prestigious news channel France24, Max Keiser, financial analyst and ex-Wall Street trader says that Goldman Sachs are 'scum, they should be locked up; they are financial terrorists who have infiltrated the US government and deliberately created the present situation'.
Then from the USA we have Dylan Ratigan on MSNBC who, during his prime time, business reporting slot, says that financial institutions like Goldman and JP Morgan are: '... lying, thieving, fraudulent crooks who should be in jail'.
The Goldman Sachs Vice Chairman Brian Griffiths recently told a London conference on 'Morality and Markets' that ".. we have to tolerate inequality as a way to achieve greater prosperity". Greater prosperity for whom? Griffiths and his crooked cronies no doubt. If that sounds like the discredited trickle down arguments from the Reagan/Thatcher era - well, Griffiths used to be a Thatcher adviser. For more than twenty years he will have been promoting the ideas that got us where we are today - for his personal gain.
If you want to see what Dylan Ratigan has to say about Griffiths and his chums - check out this video clip. In response to Griffiths suggesting that banks should give more to charity as a way of helping their tarnished reputations Dylan says "... we will take the money back and put you in jail!".
Now, that's what I call cutting edge financial reporting - no doubt the BBC crew are too busy worrying about losing their jobs if they upset the establishment.
Posted by Nicholas Moore 3:23:33 pm