Bishop Peter Selby has written When Negative Equity is Social.
The plight of individuals with debts larger than the value of the security that is held for them engages our sympathy, and rightly so. But is there another kind of negative equity that has been at the top of our agenda these last weeks, a kind of social negative equity.
In the middle of the public outrage about the phone hacking scandal (have they hacked into my phone to find out how outraged I am? How do we know the level of public outrage?) there have come to the surface some rather uncomfortable realities that are not being spoken of much.
The fact is that it isn’t just News Corp that has a stake in the negative, in the bad news and the gossip; we all have.
Negativity sells well, and we should not be surprised at how much of it there is. The bad news in which News Corp had such a stake is now overtaken by the stake we all seem to have in the maximum bad news about News Corp and its key players. There aren’t any disinterested players in all this, occupying some principled moral high ground. There are careers and balance sheets at stake – and not just those of the Murdoch empire. Bad news is a good investment…
Canon Giles Fraser delivered this morning’s Thought for the Day on BBC Radio 4. The full text of his remarks is now available here.
…The current crisis at News International and deep within the British establishment is much more than the presenting issue of phone hacking. I almost want to say that it’s become a theological issue in so far as it’s become a properly basic question about who gets to wield judgment within our society.
Last Friday the Times headline referred to Rupert Murdoch’s apology as constituting a Day of Atonement. But those who know the Jewish calendar will know that Rosh Hashanah, the Day of Judgment, comes before Yom Kippur, the Day of Atonement. In other words, judgment comes first, then atonement. And so it is that those media titans who have wielded so much judgment in our society are now to present themselves to the scrutiny of the House of Commons later on today. Those who have judged others will now themselves be subject to judgment…