20 MAY 2000, Page 26

CITY AND SUBURBAN

If he can't see what the fuss is about, he should look in the Mirror

CHRISTOPHER FILDES

tipping. His readers take their money seri- ously, and he should have known that they were being defrauded. They were entitled to act on the Mirror's advice (as I said When the facts came to light) without hav- ing to ask whether the paper's specialist writers had acted on it first, and might be taking their profits on the shares that their trusting readers were buying. If they are helping themselves they cannot be helping the paper or its readers. The intelligence that they obtain in the course of their work is not theirs to buy and sell or to pocket. Financial journalism, which became my working life before Mr Morgan was born, loses its usefulness on any other assumption. I am bound to resent his per- sistent refusal to see what the fuss was about, or to treat it as more than a techni- cal breach of a technical code.