All is not well inside Reuters.Talking Biz News has been hearing from Reuters editorial staffers who are annoyed that their CEO, Tom Glocer, made comments recently defending Goldman Sachs while they’ve been slaving away to cover the fraud scandal enveloping the company.
No sooner had the SEC surprised the firm and the market with its charges of fraud relating to the structuring and marketing of a 2007 synthetic collateral debt obligation (CDO) offering, than commentators up to and including British Prime Minister Gordon Brown fell all over themselves to convict Goldman as being “morally bankrupt.” It just seems too easy and too politically expedient to jump on this bandwagon.
Meanwhile, the Reuters wire on Tuesday alone is running 21 separate news stories, analyses, commentaries, factboxes, and graphics on the Goldman case. Reporters worked through the weekend to keep up with the latest developments. Reuters editors have decided this is a major story.
The New York Times’ Stephanie Clifford noted yesterday that it was “an unusual step for a media executive … whose firm serves clients in the financial-services industry, and who oversees the Reuters news service.”
We sent several emails to a Reuters corporate spokesman asking if the company agrees, but haven’t heard back.
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