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Narrative and Sensationalism in Broadcast Media: the Case of RT and the International Financial Conspiracy


July 16, 2013

Doug Hadden, VP Products
It's always interesting to hear the perspective of RT (Russia Television).  This odd story very much follows the RT narrative, in this case,  about a giant financial services corruption conspiracy – including the media. Very much trying to "balance" the narrative coming from the Western media about rampant corruption and poor governance in Russia.
Now that Larry King is on RT, I wonder whether we'll see less or more hyperbole. Although, it just seems to be another broadcast voice trying to inflame viewers with conspiracy theories that border on fake news like The Onion.
Karen Hudes, a former lawyer at the World Bank, alleged money laundering and financial corruption at the Bank. She alleges that there was a cover-up at the Bank, the US Congress and to finance ministers across the world. She claims top to bottom corruption within the World Bank in addition to this giant banking system conspiracy. (Goldman-Sachs, Bank of America et al.) – Mind you, it’s a bit of stretch that it’s to the advantage of the World Bank and the financial sector to generate a currency war.
Could this be the plot of the next mega thriller? Does a lawyer have the background to understand the financial system – or does she see things that financial people do not? There might be something to this story, but I don't think that the RT coverage adds much to the credibility of the argument.

Broadcast Media – Sensationalize or Die?

Broadcast media has become obsolete in the sense described by Marshall McLuhan: the medium is no longer the lead, it's role has changed because of the rise of social media. Broadcast has gone from "figure" to "ground" – it's become background noise. This means that broadcast has adapted to survive and generate revenue. It's become a place of opinion and sensationalization to draw viewers away from the almost-instant global communications of the Internet. 
It's as if TV is the last bastion of myth in the face of facts. It's become more about narratives and "truthiness."
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Doug Hadden

Doug Hadden

Executive Vice President, Innovation at FreeBalance
Doug is responsible for identifying new global markets, new technologies and trends, and new and enhanced internal processes. Doug leads a cross-functional international team that is responsible for developing product prototypes and innovative go-to-market strategies.

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