Ethical responsibilities as a financial news reporter

What were Jim Cramer’s ethical responsibilities as a financial news reporter?

During the interview, Cramer highlighted that there are people with more than one job.  People are compelled to take 2-3 jobs to put food on their tables. In my opinion, some individuals assume that persons losing their homes need to be kicked out. Lazy people should be asked to leave their homes because they are not working at all. Cramer is expected to give an account of the whole story from different perspectives. As a responsible financial report, Cramer should act in an ethical way such he reports things the way they are. According to the definition of an ethical responsible report needs to recognize, interpret as well as act on the information provided. The reporter should also act upon the values and principles based on their standards within a specific context. Unless an individual acts in an ethical way he or she should not be in the field of reporting. My suggestion at this point should entail meditation on what this implies. It is important to understand that for news reporters to give valid information, they must get to the field and find the truth. Sharing untrue information is unethical. The information a person shares should be unbiased and within a certain context. Biased information is misleading and can cause unnecessary tension. It is within the public domain that reporters should always act responsibly while at the same time remember that there is an impact in everything they say or do.The data an individual offers ought to be unprejudiced and inside a specific setting. One-sided data is deluding and can cause superfluous strain. It is inside the open area that correspondents ought to consistently act dependably while simultaneously recall that there is an effect in all that they state or do.

Did Cramer and his colleagues at CNBC and other financial news outlets violate those ethical responsibilities?

 The video reveals that CNBC is managed by the CEO. The CEO has adequate experience when it comes to dealing with the financial crisis.  It is interesting to note that the CEO is now blaming their colleagues without any financial expertise. They wonder why their colleagues invest their money in the wrong banks. They also ask why the investors take risks that make them end in debts. On the other hand, the financial institutions lending the investors money decide to take their homes.  In my perspective, people with knowledge should act like others. Like CEOs, they are not doing their best to protect their wealth. It is also the violation of their ethical responsibility as reports not tell the story as they think. You should think of the ethical responsibility of the CNBC as well as financial news outlets.  It is also worth noting that violation of the ethics by deciding not to assist to only highlight one side of the story.  CNBC decided that it is going to sell itself as a trusted firm when it comes to working with other nations in the financial market. The network was put in the spot for misleading the members of the public. It also contributed to the confusion within the public as well as ruined the economy through an unreal scheme.

Did Cramer and his colleagues violate the public’s trust?

Public trust is a critical aspect of life.  The trust of the public remains paramount when it comes to the business world. I feel the public trust has always been violated if people do not feel treated ethically. As media personalities, they felt negligent and unethical as far as the willingness of asking even the basic question in real life. Individuals such as Cramer shot up the position of executives and CEOs. However, the bankers end up skeptical of their claims regarding their people.

Which of the six dimensions of trust might apply to this situation?

One of the causes of the financial crisis in this case was greed. Greed can lead to distorted friendships in life. Truth stands out from any other things in life. Unless you are true to the public you can never realize the effect of the same.  It started with banks before it affected the brokers who decided to side with appraisers.  The information then leaked to homeowners who decided to take loans so that they could also meet the current standards of their neighbors. While it seemed a good idea from the start, most of the homeowners ended up regretting making unexpected decisions under the influence. Trust comes in different dimensions and we can support the fact that the same was violated. The violation came in terms of truth, loyalty, integrity, honesty, consistency, and openness. An individual needs to select something that they can debate. Perhaps, it can be wise not to lie to the public so that they can decide their honesty and truthfulness. Experts at times cannot be consistent when it comes to picking advice. The inconsistency in giving information can lead to untruthfulness and lack of trust.

*What could Cramer and his colleagues have done differently to avoid criticism?

I believe that Cramer and his colleagues were honest. I would suggest that the same can be avoided. If Cramer had been ethically responsible and remained true to themselves and entire public things would not have turned out the way they did. Whichever of the dimensions of trust a person can decide to explain, he or she should find out whether they will have any consequences to the general public. Cramer was expected to act in a way that he and the colleagues understand how things turn out to be in the long run. It is the ethical responsibility of the journalist to ensure that the truth prevails all the time.

It does not make sense to lie to the public as a journalist when it expects to get nothing but the truth at the end of the day. It takes a socially and ethically responsible journalist to share the truth with those in their life. The lie can damage the reputation of an individual as well as their firms. Understanding the reasons behind everything determines what happens in the long run. At times an individual has to think of others as opposed to themselves.

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