Role of press in banking crisis

04 February 2009

As part of its inquiry into the banking crisis the Treasury Committee takes evidence from four media representatives on the role of the press in the banking crisis at 2.30pm. Following this evidence session the Committee will hear evidence from building societies on their role in the banking crisis.

Banking crisis and the role of the press

Witnesses include Lionel Barber of The Financial Times, the Daily Mail's Alex Brummer, Simon Jenkins of The Guardian and the BBC's Robert Peston.

Issues likely to come up include:

  • The role of the press in the current banking crisis
  • Whether financial journalists should exercise greater restraint during periods of market turbulence
  • Whether financial journalists should operate under any form of reporting restrictions during periods of market turbulence
  • Whether enough journalists have sufficient expertise in financial issues
  • The role of the financial media in educating the public on financial issues
  • The role of the financial media in alerting the authorities to issues of public concern.

Banking crisis and the role of building societies

Witnesses include Graham Beale, the Chief Executive of Nationwide, Adrian Coles, Director General of the Building Societies Association, Iain Cornish, the Chief Executive of the Yorkshire Building Society and Neville Richardson, Chief Executive of the Britannia Building Society.

Issues likely to come up are:

  • The competition impact of consolidation within the building society sector
  • Resilience of building societies to the current financial crisis
  • The impact on consumers of the current financial crisis
  • Reforms to regulatory capital and liquidity requirements
  • The operation of the Financial Services Compensation Scheme.

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