Time magazine's big mistake

Matthew Hoy
By Matthew Hoy on December 30, 2002

Time's whistleblower trio contains an odd duck. It's the old "Mini Page" puzzle -- one of these things is not like the other.

The odd woman out is Enron's Sherron Watkins.

Why?

Well, OpinionJournal.com's Dan Ackman lays out the reason why, with an apt analogy.

A whistleblower is someone who spots a criminal inside a bank and alerts the police. That's not Sherron Watkins. What she did was write a memo to the bank robber (Mr. Lay) suggesting he was about to be caught and warning him to watch out. In response, he met with her, told her he didn't think he was robbing the bank, but assuring her he'd launch an investigation. Mr. Lay put his law firm, Vinson & Elkins, on the case. The lawyers didn't talk to Mr. Lay or to Jeffrey Skilling, the departed CEO. On Oct. 15, 2001, Vinson & Elkins issued a report concluding that the facts didn't warrant an investigation. A day later, Enron restated its financials, the first step in the chain of events that led to bankruptcy. Through it all, Ms. Watkins said zip. Many others did nothing as well, but none of them are "Person of the Year."

Exactly.

Bad call Time.

Tags

🧵Please indulge me more on this topic: Yesterday's Bloomberg article misrepresenting Thune's comments on entitlement reform is part of a broader issue:
Most media coverage of Social Security, Medicare & unsustainable debt has long been narrative-driven and, yes, dishonest. (1/)

More broken accountability at the International Fact-Checking Network (@factchecknet) and the @Poynter Institute.

The IFCN allows people to register complaints about the its stable of "verified" signatories to its code of principles. @Google and @YouTube $hould pay attention.
🧵

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