The New York University Bookstore will host Anya Schiffrin, editor of the newly released Bad News: How America’s Business Press Missed the Story of the Century, on Wednesday, February 16 at 6 p.m. (726 Broadway, between Waverly Place and Washington Place). The free event is part of the NYU Bookstore’s Event Series. For more information, call 212.998.4667 or go to www.bookstores.nyu.edu. Subways: Subways: N, R (8th Street); 6 (Astor Place).
As the recent U.S. financial crisis unfolded, journalists struggled to keep up with the biggest story of the century. After the markets unraveled and the economy began spiraling downward, reporters raced to cover an unfamiliar cast of characters and a confusing mix of derivatives and toxic financial instruments. And in the midst of this collapse, the business of journalism itself hit the rocks, as the mainstream media grappled with collapsing ad revenues and falls in circulation.
Faulted for cheerleading coverage that helped create the bubble, the business media came under siege from commentators across the political spectrum. Did the press fail in its critical role as it gave into the irrational exuberance that fed the bubble itself? How do we explain these failures? With contributions from leading journalists and academics at the forefront of this issue, Bad News (The New Press) is the first attempt to navigate through a controversy that will be studied for decades to come.
Schiffrin is the director of the media and communications program at Columbia University’s School of International and Public Affairs. She spent 10 years working overseas as a journalist in Europe and Asia.