Journalism In A Post-Reading World

Voice is a powerful presence in news media. It can be pedantic and lecturing, informative and scholarly or any other number of culturally relevant variants that reflect the national dialogue.  In a post-reading world, where information is auditory and sensory – rather than slow and thoughtful (think: printed) – the voice of journalism has become a juxtaposition of the court jester and paper hawker.

So, with that introduction, here’s Matt Taibbi on the Financial Reform legislation:

In a heartwarming demonstration of the Senate’s truly bipartisan support for Wall Street, Sen. Sam Brownback – a Republican from Kansas – stepped in to help Democrats kill one of the bill’s most vital reforms. At the last minute, Brownback mysteriously withdrew his amendment to exempt auto dealers from regulation by the CFPB – a maneuver that prevented the Merkley-Levin ban on speculative trading, which was attached to Brownback’s amendment, from even being voted on. That was good news for car buyers, but bad news for the global economy. Senators may enjoy scolding Goldman Sachs in public hearings, but when it comes time to vote, they’ll pick Wall Street over Detroit every time.

On the plus side, the bill will rein in some forms of predatory lending, and contains a historic decision to audit the Fed. But the larger, more important stuff – breaking up banks that grow Too Big to Fail, requiring financial giants to pay upfront for their own bailouts, forcing the derivatives market into the light of day – probably won’t happen in any meaningful way,

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