|SocialismToday Socialist Party magazine|
Has the media ever been as rotten as it is now? Of course, the media is part of society and defends the current system. But within limits, there has been room for probing, investigative journalism. Today’s news stories, however, are dominated by repetitious, unchecked stories usually in the cynical service of political spin and naked profit. PETER TAAFFE reviews a devastating book which lifts the lid on the workings of the media.
The failure of the investment bank Bear Stearns marks a new stage of the banking crisis, as the liquidity-solvency spiral continues its downward course. At the same time, the Fed-financed bailout, together with calls for a wider state rescue of failing banks, is opening up an ideological crisis for ultra-free-market capitalism. LYNN WALSH reports.
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Germany: strikes & more strikes
Britain after the budget
End of an era
Cover cartoon: Suzanne Muna www.squashdonkey.co.uk