The Media 's Effect On Social Change

916 WordsApr 11, 20164 Pages
The next way that the media can hinder social change through the law, and perhaps the most problematic, is the role that the media takes in protecting large businesses. While the media highlights cases of extreme abuse of the system or people’s rights, they seem to stay silent when it it comes to exposing the abuses of their investors and other wealthy and powerful interests. A perfect example of this concept is with the role that large banks and investors played in the 2008 financial collapse. Large banks such as Goldman Sachs intentionally sold subprime mortgages which creates a housing bubble that popped in 2008. Wall Street’s reckless behavior put millions of people out of work and homes, but they have dodged almost all culpability in the court of public opinion and has thus avoided social change to the banking system. Why? They control the media. Unlike how the media was able to frame police brutality and sexual harassment cases as an institutional problem, they have failed to do so when it comes to banks. Instead, individuals such as Bernie Madoff have taken the brunt of media coverage and public hostility. While individuals certainly were a problem, the media refused to cover the story as an institutional problem with the banks which stifled banking reform. The second way that large businesses used the media to be shielded from public embarrassment is that they were able to dodge court all together. Many of the banks instrumental to the 2008 financial collapse settled

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