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Published Date: 05 October 2008
WELCOME to Scotland on Sunday's online feature, Question of the Week.
Each week we ask the readers of scotlandonsunday.com for their views on a burning issue from the past seven days. The best responses may be reproduced on the Online Forum page in Sunday's print edition of the newspaper on October 12.
If you wish to appear in Scotland on Sunday, then, along with your response, please leave a first name and surname, as well as your location - eg Tom Smith, Edinburgh. We welcome all comments.

The question this week is...

Was the BBC's Robert Peston right to report a story even if it caused a run on the markets?



The full article contains 114 words and appears in Scotland On Sunday newspaper.
Page 1 of 1

  • Last Updated: 09 October 2008 4:55 PM
  • Source: Scotland On Sunday
  • Location: Scotland
  • Related Topics: The BBC
 
1

Edward,

09/10/2008 16:40:53
In a word NO
But Robert Peston was being used by Labour spin managers as well as Alistair Campbell to have leaks given to Peston, knowing he would spout it out
The guy loves Labour,so was a willing participant
His actions and what happened was actaully what Labour wanted. Now Labour and Gordon Brown are promoting themselves as the saviours of the known world, with every one hating Banks and big business
There is irony though that one of the Banks employs tyhe former prime minister Tony Blair. Bet he is popular in the tea room.
Labours leaking eve tghrough in a few misleading breifs about RBS for good measure, which has angered RBS
2

Active Sassenach,

Luton, England 10/10/2008 17:59:43
No. Robert Peston was wrong. He is under investigation by the FSA for the offence of market abuse following a complaint made against him for this offence by a very eminent and respectable source.

He should not have given information about the HBOS/Lloyds discussions on the BBC before it was on the RNS. To do so is market abuse and an offence under FSMA 2000 Ss 345-348. The BBC should have suspended him from his job pending that investigation. The market should only deal on what is on the RNS.

Worse, he risked provoking unjustified panic among depositors. Peston's offence may even be credited as the cause of the measures the Government has now been forced to take. He could have caused a run on the currency as well as the banks.
3

Dr Blockbuster aka Vince,

Networks & Forums guru 11/10/2008 15:46:31
Tch, tch ... Active Sassenach, one must always remember that the audience are not always aware of abbreviations :smiles: For example,what does gapo stand for? :wink: Anyways ... as you know, and I didn't, RNS is the Regulatory News Service of the LSE (London Stock Exchange).

Having said all that ... I totally agree with your view! Frankie Howerd used to do well with his "Woe, woe and thrice woe" in "Up Pompei" but that is nothing compared to the achievements of Mr Peston. I complained to the BBC about his scaremongering, but I know that that was a waste of time and misuse of my grey cells. As an actor stated on "Friday Night with Jonathon Ross" a few weeks ago ... "I daren't say a word about the new film, because we're all gagged and you know how news travels these days and via the internet".
The trouble is ... perceived authoritative reporting can be acted on by many people very VERY quickly. I, myself, think that the "pensioners run" on Northern Rock was fuelled by sensationalist reporting by Peston the previous day.
There is absolutely no doubt that there is a world wide banking crisis at the moment, but with the added speed of news dissemination and internet connections, additional safeguards are required to avoid actions that cause the public to act as lemmings. Given a little time, and a desire to do it, Dr Blockbuster reckons he could cause a run on ... hmmm ... any "commodity" ... from fish to diamonds.
Unfortunately, Mr Peston has been elevated to just about the position of a seer by the BBC, and the public ARE listening. As I said before, we are having a banking crisis. The best way to quiet the lemmings is to have accurate reporting with a "soft" approach. Bring back Moira Stuart to the BBC (:smiles:) or hire Kirsty Young ... and confidence will return.

Should Dr Blockbuster not have larified his answer to the original question ... it is "no".

Dr Blockbuster
Networks & Forums
4

Dr Blockbuster aka Vince,

Edinburgh 11/10/2008 15:57:36
Dr Blockbuster apologizes for that schpelling mischtake in the last sentence there ... obviously I meant "clarified". :smiles: and I have added my location.

 

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