Wealthy Finance Executives Win $254 Million Lottery Ticket, NYT’s Kevin Roose Calls It A ‘Feel-Good Story’

Kevin Roose

A group of executives at the firm Belpointe Asset Management just won $254 million with a lucky $1 Powerball pick. The winners, three wealthy men from Connecticut, scored the largest jackpot in state history.

New York Times Dealbook reporter Kevin Roose exclaims:

Now the 1 percent has its own feel-good story.

Um… what?

Just clicking through Roose’s stories for the Dealbook, there seems to be a pattern of fawning coverage of the finance industry. It’s a subtle form of bias, to be sure:

— 11/28/11 Roose piece on how Occupy Wall Street “vitriol” has hurt Wall Street recruiting on Ivy League campuses. Lamenting noisy protesters, Roose wrote: “for those students still hoping to land a job in finance, the added peer pressure has forced some of their enthusiasm underground.” Peer pressure sounds dreadful!

– 11/24/11 Roose article on young bankers facing layoffs and grim job prospects in the finance industry. Hundreds of readers commented or blogged about how pathetic the article was, particularly parts about unemployed bankers sitting around with nothing to do but sip champagne. Roose eventually responded by dismissing the criticism as “mild schadenfreude to fiery wrath.”

— 10/24/11 Roose simply posts YouTube videos of billionaire Steve Schwarzman’s birthday roast.

— 11/11/11, 7/29/11, 7/14/11 Look for Roose’s up-to-theminute coverage ‘Wall Street Wives,’ a reality TV show about the women with relationships to men working in finance.

The New York Times Dealbook is an unusual creature for the grey lady. The publication within a publication is sponsored by banks like Goldman Sachs and has faced criticism for its overall sycophantic coverage of wealthy captains of finance.

1 Comment

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One response to “Wealthy Finance Executives Win $254 Million Lottery Ticket, NYT’s Kevin Roose Calls It A ‘Feel-Good Story’

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