FT publishes the wrong story

Discussion in 'General Trading Discussion' started by Alex, Dec 4, 2015.

  1. Alex

    Alex Senior Investor

    Joined:
    Apr 2015
    Posts:
    634
    Likes Received:
    3
    The FT published that the ECB was holding the interest rates and caused the market to fluctuate, where in fact the rates were cut.

    http://www.ft.com/cms/s/2/c01f37ec-99c1-11e5-987b-d6cdef1b205c.html#axzz3tKwkJbk9

    It just goes to show even the most reliable sources writes up a couple of stories in anticipation and here, they printed the wrong one. The problem was made worse with the tweet, "@FTMarkets reading "ECB leaves rates unchanged in shock decision" which has since been deleted.
     
  2. Rainman

    Rainman Senior Investor

    Joined:
    Jun 2014
    Posts:
    1,587
    Likes Received:
    4
    The Washington Post published an embarrassing story late September that had been pre-written announcing that Joe Biden had declared he'd be running for president. The story was pulled down soon after but lots of people had seen it by then.
    I think what makes some of these publications print the wrong story is their desire to be the first ones to publish a story but when they aren't careful their haste makes them screw up.
     
  3. Alex

    Alex Senior Investor

    Joined:
    Apr 2015
    Posts:
    634
    Likes Received:
    3
    That's bad for the Washington Post, and it just goes to show that journalists really don't have a clue these days, and who does press the button to okay things? The editor still or not?

    I never thought he would run, because he had no news of donors or fundraising and to campaign and win that's the most important thing. To be honest with Clinton he was never going to be in the running, and if he did, he would have pulled out by now.
     
  4. baudwalk

    baudwalk Senior Investor

    Joined:
    May 2015
    Posts:
    1,459
    Likes Received:
    13
    History just repeats itself. Nothing new here. One of the most famous oops was in 1948. A paper printed very large headlines that Dewey beat Truman in the presidential elections.
     
  5. pwarbi

    pwarbi Senior Investor

    Joined:
    May 2015
    Posts:
    1,028
    Likes Received:
    5
    A lot of the media will already have a couple of stories already premade, and they'll release whichever one it is necessary as the news breaks.

    This is a way of trying to get the story out as quick as possible, and so there's always a possibility of the wrong article being released.
     
  6. crimsonghost747

    crimsonghost747 Senior Investor

    Joined:
    Mar 2014
    Posts:
    1,722
    Likes Received:
    6
    Yeah these things happen. Probably just two articles ready to go and they published the wrong one... or a journalist just typing stuff really fast. :D
    At least in the modern day these things can be corrected fast. Just delete and post the correct one or edit the existing one.
     
  7. ScooterBrandon

    ScooterBrandon Senior Investor

    Joined:
    Jun 2015
    Posts:
    595
    Likes Received:
    2
    With today's fast paced 24 hour news system, organizations are under heavy pressure to push out content at light speed.
    Fact checking and due diligence suffers, and we also get garbage like this.
     

Share This Page