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It's been a few years since my subscription expired when I dropped out of the business world, but WSJ's reporting on Enron, WorldCom, the conflict of interest inherent in the same industry providing both securities analysis and securities sales and the similar conflict of interest in big pharma designing all drug trials was top-notch and months to years ahead of the rest of the media. With Murdoch in charge, all public benefit will disappear and the news pages will be no different from the "pump and dump" spam now polluting our inboxes.
In the spirit of Glenn Greenwald's "sea change", however, we can hope that the eventual outcome of this coming melt-down will be business schools snapping out of their current cheating scandals to become the new home of securities analysis. I know I'm dreaming here, but couldn't you see individual front-line schools specializing in market sectors and providing true long-term performance metrics? The we could also have medical schools taking over design and control of drug trials, with every trial comparing the new drug to currently accepted practice in efficacy, side effects and cost.
