Drooper said:
You need to be extremely careful.
You're an Aussie of, let's say, a certain maturity. You must remember the bits that hit the fan when John Laws made this very mistake
I was about to get to that point, actually.
My suggestion at that time was that if the financial institution can show that they were actually viable
before the negative reporting, then the reporter/publication should face charges of "institutional libel" (or is it slander...). That is, public reporting aimed purely at destroying the good reputation of that institution. However, if the reportage was shown to be true, then it would be deemed fair and accurate reporting, with no comeback. Therefore the onus would be on the reporter to ensure that the facts were really in and checked, Jimmy Olsen, and that it was not some sneaky game-playing by the opposition institutions (the big end of town doesn't "play fair" at all - believe me! It's
really down and dirty in the high boardrooms!).
Since then, I've had some reservations about how this type of check-and-balance might be exploited and misused, but still I think there needs to be some accountability on both sides when it comes to airing the dirty laundery of the financial institutions.
In the John Laws case, I thought that
he really thought he was beyond reproach in publicly airing some street gossip he heard third or fourth hand from one of his mates in a restaurant.* I could imagine the pitter-patter of feet running away from him at the time!
*For the USAins, John Laws is a long-term, reactionary, right-wing (and enormously rich) Sydney radio announcer, who has a permanent audience of "fans" who cannot believe he says anything wrong, ever. He has a habit of buying cars he doesn't need, and spending his lunch-afternoons in the swankiest restaurants in town...just because he can. He has influence merely because people believe he has influence. Personally, I think he's lucky he can get his big head through doorways - I find him insufferable.
http://en.wikipedia.org/wiki/John_Laws