Topic fjórir - The impact of the media on the sustainability of the financial services industry

Question 1

Example of a financial press

Answer 1

The financial times

Question 2

Example of a broadsheet press

Answer 2

The independent
The telegraph

Question 3

Example of a Middle market press

Answer 3

The daily mail
The daily express

Question 4

Example of a tabloid

Answer 4

The sun
The daily star

Question 5

The hierarchy of newspapers

Answer 5

Financial press
Broadsheet press
Middle market press
Tabloids

Question 6

Negatives of the media

Answer 6

Biassed
unfair criticism
hype of wrong products

Question 7

positives of the media

Answer 7

Carry out reports about bad banking
Miss sold products
Can act as a watchdog

Question 8

What does a journalist take into view while writing an article

Answer 8

Sets out the facts they want to use
Keeps it brief (Tabloid/middle market press)
Includes a subjective comment
Will use a quote in their favour to push their view

Question 9

What does a journalist writing for a tabloid do for media bias

Answer 9

Uses words like us/we to make people think everyone has that view

Question 10

How are messages for target audiences used for media bias

Answer 10

As it is being written with a certain view, it wont go against the view, e.g. wont go against a party’s policy if they are aligned with the party.

Question 11

Race and Gender being used for media bias

Answer 11

Office of white’s wont crack down on racial injustice more than a black office would.

Question 12

How does media bias come from independent experts

Answer 12

Will get an expert only from their point of view to make people think it is the only good one.

Question 13

How can think-tanks be used for media bias

Answer 13

As hired by a company, they will follow that viewpoint

Question 14

What ways can the media inflate and exaggerate information

Answer 14

Make the info confusing

Will simplify bank events to make them more shocking

Question 15

What happened in the media during and after the financial crisis

Answer 15

As the media was reporting about it a lot people started to bash the banks as they thought they were experts in the banking field.

Question 16

What reasons do customers use social media to relation to banks

Answer 16

Express frustrations
Find information
Use to see how others feel
Recommend their bank

Question 17

How can providers use social media comments for good

Answer 17

Can use the comments as advice on how to improve

Question 18

How fast is information on banking spread

Answer 18

Due to things like 24 hour news information can be spread very quickly, especially if it is a big bank.

Question 19

How is social media used by financial providers

Answer 19

Use the platform to make public statements

Display financial information

Question 20

What social media is used the most among financial providers

Answer 20

Twitter

Question 21

What is a think-tank

Answer 21

A group of people who are hired to make reports and find information on something.

Question 22

Examples of think-tanks

Answer 22

Resolution foundation - A think tank that tries to improve those on low-middle income. Says millions of people will have perilous debt after interest rate rises

Centre for social justice - Say’s most households have debt of around £54,000, almost twice of the 10 years before

Question 23

What does a subjective report do

Answer 23

From the POV from journalist, and it aims to persuade people of the validity of this view

Question 24

What does an objective report do

Answer 24

Points out arguments from both sides and is not biased.

Question 25

How can language present media bias

Answer 25

Words like “us” or “we” makes people think that what their writing about is everyone’s thoughts

Question 26

How is race and gender bias made

Answer 26

Reports from an office of people of one gender or race

Question 27

How can bias be made from media having experts

Answer 27

If the media gets an expert from only one side

Question 28

can can information being held or pushed more lead to bias

Answer 28

If information isn’t shown people don’t think it’s a big deal, vice versa

Question 29

How does simplifaction cause problems in media

Answer 29

The media makes people think their experts on a subject and will go against the bank

Question 30

How was the media involved in the financial crisis

Answer 30

By reporting on it people were alerted and took all their money out, leading to more crashes

Question 31

What was the libor scandal

Answer 31

Banks interest rate on loaning to each other was being manipulated so banks could make more profit

Question 32

What are teaser rates

Answer 32

Rates that start of either high or low and then change after a year

Question 33

How does the media act as a watchdog

Answer 33

Publishes bad practices
Can push new changes through
Acts as the voice of the people