Financial Media Exaggeration

               

       

The media exaggerate with high-tech distribution of news, as they did when they sold only newspapers in what we still refer to as days of “yellow journalism.”

                       

That’s not just when it comes to sex and  politics. It includes members of the financial fraternity.

                       

One example: When  Madoff said he made off with $65 billion and was subsequently convicted of fraud, his case pointed out a problem in the financial media.

                       

Investigators believe the total sum involved was actually closer to $17 Billion. The sensationalist media continues to pick up the $65 billion number because it suits their needs.

Other exaggeration often has to do with the ongoing moods and sentiments of the markets.(See the Earl J. Weinreb NewsHole® comments and @BusinesNewshole at Twitter.)