The Whitehaven Coal hoax perpetrated by an apparent ANZ media release raises some very interesting issues.

One is the ready acceptance by most of the media outlets of the authority of a media release which appeared to be on an ANZ letterhead. So much so, that according to the Fairfax Media report in the Sydney Morning Herald, they were the only ones to call to secure verification of the release.

Clearly there is a backlash in the wind, either with the perpetrator facing prosecution for disseminating false and misleading information to the market, or those who lost money seeking compensation.

And what of More >