“one trader, responsible for plain vanilla futures hedging”

24 01 2008

In their coverage of the ‘unprecedented’ Société Générale trading fraud scandal, Belgian quality newspapers De Standaard and De Tijd are linking the original SocGen press release. A move I applaud and one you see rarely. It is an unwritten rule of (financial) journalism that press releases are an important news source that is seldom acknowledged.

Running press releases unedited is usually seen as a way for newspapers to signal that the news has been censored. In this case however, it is exactly the opposite: not only is the source credited, but it is also reproduced verbatim in an effort to guarantee its authenticity.

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