Irresponsible mainstream media

The mainstream media are becoming more and more irresponsible.

From the same network that had Heather du Plessis-Allan breaking 5 laws in order to try and claim there was some sort of loophole for buying firearms you now have them leaking Reserve Bank information that was under embargo.

Worse than that they shopped the embargoed information to a blogger who showed he had more ethics than them and dobbed them in.

The Reserve Bank has ended its 20-year practice of allowing journalists and analysts embargoed access to its Monetary Policy and Financial Stability Reports.

This comes after the March 10 Official Cash Rate was leaked from the media lockup prior to the official release time.

The Bank commissioned Deloitte to investigate the leak which came to light after the “Croaking Cassandra” blogger, Michael Reddell, claimed he had been alerted by a media organisation that the bank was unexpectedly going to drop the OCR by 25 basis points.

He says he got the tipoff at 8:04 — 56 minutes prior to the release time.

The Deloitte investigation found that a journalist from the MediaWorks-owned “Newshub” was the culprit who had sent a story to their Auckland newsroom during the embargo period.

The newsroom then contacted Mr. Reddell.

Journalists have to hand in their phones before entering the lockup but there is a suggestion that the culprit may have set their phone to act as a hotspot.

Sneaky, furtive and now their actions have affected all other media and reduced access to information.

Reserve Bank Governor Graeme Wheeler said the leak was a serious and disappointing breach of many years of trust.

“It created the opportunity for improper gain on financial markets and damage to the integrity of the Bank’s communications,” he said.

“I am extremely disappointed that the information was leaked initially and then communicated more widely.

“The fact that several people outside the Bank, who had access to the information improperly, failed to alert the Bank immediately, was irresponsible and left open a significant risk that the Bank could have closed down quickly with an immediate official release.”

Ironically the CEO of MediaWorks is Mark Weldon, the former CEO of the New Zealand stock exchange operator, NZX.

Yes very ironic. Mediaworks, Newshub and everyone involved should hang their heads in shame.

They won’t and the slide will continue. You simply can’t trust the mainstream media anymore.

 

– Politik


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As much at home writing editorials as being the subject of them, Cam has won awards, including the Canon Media Award for his work on the Len Brown/Bevan Chuang story.  And when he’s not creating the news, he tends to be in it, with protagonists using the courts, media and social media to deliver financial as well as death threats.

They say that news is something that someone, somewhere, wants kept quiet.   Cam Slater doesn’t do quiet, and as a result he is a polarising, controversial but highly effective journalist that takes no prisoners.

He is fearless in his pursuit of a story.

Love him or loathe him.  But you can’t ignore him.

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