Read an interesting article in The New York Times regarding the positioning of major banks’ public statements during this tremendously difficult time. Anyone who doubts that spin exists at all levels should clearly read this. The conclusion of the article from a PR viewpoint is also noteworthy:

“If there are ways people in this room go to jail, it’s probably through crimes of upholstery — the cover-up will kill you,” Joseph A. Grundfest, a professor of law at Stanford University who is a former commissioner of the Securities and Exchange Commission, said at a class for directors of the nation’s Fortune 500 companies which I attended in 2002 in the aftermath of Enron’s collapse.

Oftentimes, I see very public people in very senior financial positions at my gym, restaurants, and at events. You can see on their faces how incredibly difficult it is to be in the public arena and suddenly have the world watching your every move. I expect to see more analysis of how the banks are handling crisis communication in the coming weeks. Either way, this is certainly an interesting read in these very difficult financial times.

Ronn Torossian

5W PR