Is The NYT Ignoring A JPMorgan Bombshell Because It Makes Investor Carlos Slim Look Bad?

carlosslim tbi

That’s the thesis put forward by James Ledbetter at the Big Money, who wonders why the New York Times hasn’t written about a judge’s withering smackdown of JPMorgan, and a complaint that the bank screwed over one client for the benefit of Mexian billionaire Carlos Slim.

Basically — as first reported by Felix Salmon this week — Federal Judge Jed Rakoff slammed the bank for attempting a deal that would have allowed Carlos Slim to take control of some debt of rival Grupo Televisa, and allow him access to all kinds of Grupo Televisa company secrets.

Rakoff has put a stop to the transaction, which he described as acting in bad faith.

Anyway, WSJ has now covered the story, but the NYT hasn’t, and of course Slim was the paper’s saviour during the darkest days of 2009. This leads Ledbetter to wonder whether Slim’s investment in the company is influencing editorial decisions.

We don’t even have to call the NYT to know that the answer to this would be a decisive “no,” but the “real” answer doesn’t much matter. By taking cash from such a controversial and powerful business figure, the paper clearly has gotten into a position where its business reporting on certain (mostly Mexico-related) topics is suspect.

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