THE ENFORCERS

How Little-Known Trade Reporters Exposed The Keating Five and advanced Business Journalism.

ABOUT THE BOOK

The Enforcers takes a critical look at the mainstream media’s failure in covering the savings and loan crisis. It identifies an unlikely hero: a small mortgage industry newspaper, the National Thrift News, had broken the story of Keating and his ring of political corruption nearly two years earlier, in September 1987. This newspaper’s aggressive reporting on the savings and loan crisis contributed to the downfall of Keating Jr., chairman of American Continental Corp. and owner of Lincoln Savings and Loan. The National Thrift News is broadly similar to small digital newsrooms of today that produce quality journalism often for a niche audience. The Enforcers argues these smaller journalistic players produce stories of significant social impact. This book describes the problems with business journalism and its possible future by focusing on the little-studied genre of the trade press.

One surprise from the research: this early look at the trade press reveals numerous examples of important journalism that benefits the broader society. The National Thrift News defied a longstanding narrative that trade publications are captive to the industries they cover. The case study provides new evidence of accountability and investigative journalism in the trade press and offers broader lessons for mainstream business journalism. The National Thrift News envisioned investigative reporting as a commercial and market opportunity. The newspaper had independence because the editor was part owner, and he was willing to let the staff take risks. This book makes the case that business journalism must evolve from its origins as a market servant and become a market watchdog.

ABOUT THE AUTHOR

Rob Wells is an Associate Professor with tenure at the University of Maryland Philip Merrill College of Journalism. Previously, he worked as an assistant professor at the School of Journalism and Strategic Media at the University of Arkansas in Fayetteville. He taught data journalism, journalism theory, business journalism and reporting in Fayetteville starting in 2016. Wells earned his doctorate in Journalism Studies at the University of Maryland Philip Merrill College of Journalism.

His research interests include business journalism and ways it can improve.