March 13, 2009
Paparazzi Switch Focus from Britney to Bankers
Tabloids and TV shows best known for hounding Hollywood stars are turning their cameras to bankers and captains of industry, the New York Times reports.
Paparazzi now track corporate jets and snoop on lavish parties held by execs at bailed-out banks, tapping into a deep vein of public anger at the state of the economy and the billions of dollars spent bailing out corporate America.
Watchdog shows capturing corporate excess resonate strongly with viewers, producers say, and can even put pressure on Congress to demand accountability. After gossip site TMZ broke a story on Northern Trust—recipient of a $1.6 billion bailout—paying millions to put on corporate concerts, the bank received an angry letter from lawmakers and agreed to repay the costs.