Oireachtas Joint and Select Committees

Wednesday, 25 March 2015

Committee of Inquiry into the Banking Crisis

Context Phase

Dr. Julien Mercille:

It depends on the media organisation. Boards mostly play a role in orienting the general direction of the newspaper. They do not do the reporting on the ground. If the board of a newspaper is filled with trade unionists, that newspaper's coverage will probably be more pro-trade union. We would not have an inquiry about that because everybody would understand it. When the board of a newspaper is filled with people from the banking sector and other elite sectors, the newspaper's coverage will be influenced in that direction. We cannot stay at that point, however - we need to look at the actual coverage. There are people in business and in the establishment who care about the truth. Such people exist. After we looked at the coverage and saw that the housing bubble was pretty much covered favourably, we examined the interests of the people on the board. It was clear to us that they drew benefits from the entire process. We were able to make an interpretation on that basis. That was one dynamic among others.