Madoff coverage questioned

Matthew Goldstein of BusinessWeek‘s Investing Insight blog put up a post today questioning the media coverage of the Madoff fraud case.
He wonders why the issue is getting such immense coverage by the media, especially compared to similar schemes that have come to light recently.

But as a reporter who recognizes just how big a scandal this is, I still marvel at the level of coverage the Madoff affair has gotten. I think it’s fair to ask how much of the wall-to-wall coverage is driven by the fact that some of Madoff’s main investors were the rich and famous. Or is the coverage driven in part by the fact that the scandal originated in New York, where so much of the business press is located.

He compares the Madoff scheme to a similar scheme uncovered in the midwest earlier this year which, while smaller in terms of damage, received very little national coverage.

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