By Julie Lévesque
The influence of money and politics on editorial content
Former chief political commentator of the Telegraph Peter Oborne resigned from the newspaper because it would not publish articles on HSBC for fear of losing advertising revenues. The bank is well-known for its money-laundering for Mexican drug cartels as well as its involvement in tax evasion schemes.
In an opinion piece called “Why I resigned from the Telegraph” he wrote:
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There are many reasons not to trust the mainstream media (MSM). Most, if not all those reasons, have been analyzed by independent news outlets. The MSM is owned by private companies and financed by advertising, both of which have a clear influence on its editorial content and the overall agenda setting. It has also been proven in the past, during the Church Committee, that the CIA, like other intelligence agencies, uses the mainstream media for propaganda purposes by planting stories and using journalism as a cover for agents. The mainstream media’s complaisance towards governments has also been exposed, namely with the New York Times’ yearlong silence on wiretapping under the Bush administration.
Recently, however, several stories from mainstream journalists have emerged, exposing the corrupt nature of the MSM, thus weighing in on the growing mistrust it inspires. We hope the following will inspire you to support independent media like Global Research!
Former chief political commentator of the Telegraph Peter Oborne resigned from the newspaper because it would not publish articles on HSBC for fear of losing advertising revenues. The bank is well-known for its money-laundering for Mexican drug cartels as well as its involvement in tax evasion schemes.
In an opinion piece called “Why I resigned from the Telegraph” he wrote:
“The coverage of HSBC in Britain’s Telegraph is a fraud on its readers. If major newspapers allow corporations to influence their content for fear of losing advertising revenue, democracy itself is in peril…
From the start of 2013 onwards stories critical of HSBC were discouraged. HSBC suspended its advertising with the Telegraph. Its account, I have been told by an extremely well informed insider, was extremely valuable. HSBC, as one former Telegraph executive told me, is “the advertiser you literally cannot afford to offend”…
Winning back the HSBC advertising account became an urgent priority. It was eventually restored after approximately 12 months. Executives say that Murdoch MacLennan [the chief executive] was determined not to allow any criticism of the international bank. “He would express concern about headlines even on minor stories,” says one former Telegraph journalist. “Anything that mentioned money-laundering was just banned, even though the bank was on a final warning from the US authorities. This interference was happening on an industrial scale.” Peter Oborne, Why I have resigned from the Telegraph, Open Democracy, February 17, 2015)
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