Bethany McClean twists with the wind

[rogermunibond]

Before they became professionalized as journalists aka keepers of a "civic trust," newspapermen or hacks twisted with the wind.  They wrote stories that publishers would pay for and that the public wanted to read.  If the stories meant that you portray hedge fund managers as gods then those were the stories you wrote.  Why not?  The times were good.  Money was plentiful, and those with the most were the most interesting. But just as quickly, when the wind changes, hacks are perfectly happy to tear down those that they spent time building up.  The mood has changed the former masters of the universe are vilified by the public.  So what's a hack to do?  Well you turn on your old masters. You get to write the story on the way up and on the way down.

 

http://www.vanityfair.com/politics/features/2009/04/fortress-group200904?currentPage=1