Media 'cheerled property bubble', banking inquiry told

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."

More on this topic

Banking whistleblower tells committee he is relying on friends for food Banking whistleblower tells committee he is relying on friends for food

Michael Noonan has been very honest with the Irish people, says BrutonMichael Noonan has been very honest with the Irish people, says Bruton

Brian Lenihan claim, 'we all partied'Brian Lenihan claim, 'we all partied'

Banking inquiry report 'worse than useless', says US expertBanking inquiry report 'worse than useless', says US expert

More in this Section

Covid-19: Ryanair to take €300m hit, but still in profitCovid-19: Ryanair to take €300m hit, but still in profit

Dire US jobs numbers drive further selloff for global markets amid Covid-19 falloutDire US jobs numbers drive further selloff for global markets amid Covid-19 fallout

Pressure builds on insurer FBD over dividend payout amid Covid-19 crisisPressure builds on insurer FBD over dividend payout amid Covid-19 crisis

Penneys owner cuts executive salariesPenneys owner cuts executive salaries


Lifestyle

With documentary film ‘Fantastic Fungi’ set to take the world by storm, Joe McNamee looks at the fabulous world of mushroomsDocumentary explores the magic of mushrooms

I lead a very busy life — I’m a mature student in college — and I separated from my partner but the separation was my decision. I hate myself when it beckons as it ultimately makes me fatter, it has the reverse effectDear Louise: I had my bulimia under control. But the demon has returned

This year has been particularly difficult and stressful, and I think that’s an even more important reason to make time for your health.Derval O'Rourke: Resistance is far from futile and necessary

Best-selling author Faith Hogan is keeping the faith during the lockdown, thanks to her Moy Valley haven in Ballina, Co Mayo.Shape I'm in: Keeping the Faith during lockdown

More From The Irish Examiner