The latest Special Edition issue of Ethical Space looks at the financial crash of 2008 and the crisis in financial journalism. The crash saw the world economy on the edge of meltdown after the collapse of Lehman Brothers on 15 September. The banks were on the brink; the cash machines worldwide were about to be shut off. In the end, the global economy was saved - but at a huge long-term cost. Why did so few politicians, economists and academics see the Great Crash coming and why did so few journalists report it in advance?
In Playing footsie with the FTSE? the movers and shakers of financial journalism try to give some explanation. The BBC’s Robert Peston, the Daily Mail’s Alex Brummer, the Banker’s Brian Caplen and 15 other leading commentators try to answer why so few journalists predicted the global economic crash of 2008.