The Huffington Post Reports on Rachel Maddow calling out (sic) guest Dr Laura Andrea Tyson for failing to disclose her role as a Board Member of Morgan Stankley in discussing the Baninking Bailout.
First to disclose my conflict. I think Rachel Maddow is adorable, endearing, intelligent and kind of compellingly shy. I have since the first time I saw her on Olbermann. She is a breath of fresh air. I just wish they had cancelled Chris Matthews instead of Dan Abrams to make room for her.
And just as quickly as my crush developed, I thought there is probably very little chance that it would be reciprocated in any way. It is not that I thought we were incompatible. We are about the same age and share common interests. But while my gaydar is not too finely honed, I had not doubt that Rachel appeared to have suited up for the other team. Again, it didn’t affect my crush at all, because it was you know, a crush on a TV personality.
So I am more than happy to celebrate Rachel. But it is sad to have to celebrate her for doing something that you would just assume would be standard practice for her profession. But sadly in the world of professional log rolling that is the national media, being a ethical professional apparently is worthy of note.
Duly noted. Good for you Rachel.
After Enron and Worldcom and Global Crossing and on and on it became common on Financial television for guests to disclose any relevant holdings or conflicts of interest. So the rah-rah press cheerleaders for the fake economy were suddenly shamed into addressing some of the most basic facts behind the pump and dump stock promoters and “analysts” who had used this access for years to dupe the public.
And 7 years later, after more and bigger scandals, the securitization of junk derivatives, and pumping short term revenue at the expense of unlimited risk, we are astonished when a member of the political media actually calls out a conflict like this? And people are making excuses for Dr Tyson not disclosing this obvious conflict?
What is truly stunning is that his corruption is tolerated. Yes, Dr. Tyson should have disclosed that she was A BOARD MEMBER of Morgan Stanley before making any comments as an “expert” on matters involving the taxpayer funded no-strings attached bailout.
A key piece of data here. Dr Tyson is paid $350K per year to serve on the MS Board, which probably amounts to about $10,000 per hour for actual duties. Big companies do not pay independent directors that kind of money because the job is so onerous, so you might want to consider what they are really buying.
Like maybe access to have their interests represented in the national media by spokeswhores posing as independent experts.