Media Blog

What the Media Gets Wrong About Wall Street

Interesting observations from The Deal:

In one fell swoop last week, almost everything the media believed about Wall Street’s heroes and villains was turned on its head. On the very day the papers were chronicling Eliot Spitzer’s dalliance with prostitutes, news was breaking that Stephen Schwarzman was making one of the largest donations ever to a cultural institution. Suddenly, the Sheriff of Wall Street looked like an oversexed hypocrite, while the guy who supposedly symbolized everything wrong with the Street — greed, excess and a taste for pricey crabs — looked, well, not that bad at all. How did differentiating the black hats from the white hats become so confusing?

Whole thing is worth reading.

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