Media 'cheerled property bubble', banking inquiry told

The banking inquiry has heard the media played a key role in "cheerleading" the property bubble.

Media 'cheerled property bubble', banking inquiry told

The banking inquiry has heard the media played a key role in "cheerleading" the property bubble.

UCD lecturer Julian Mercille said most media were influenced by their own commercial interests, which helped to propel the bubble.

He said very few media had raised the prospect of a property crash, with most insisting there would be a soft landing.

And he says those problems still persist today.

"The politcal and economic nature of the media industry is intact," he said.

"News organisations are still corporate- or government-owned entities. Advertsiing still plays a role in generating revenues and journalists still source their stories overwhelmingly from establishment institutions and individuals."

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