THE REPORTER AND HIS INDUSTRY

The life of veteran financial journalist Stan Strachan and his newspaper, the National Thrift News both traced the broader arc of the savings-and-loan industry from the mid-1970s through the early 1990s; the industry prospered due to a post-World War II housing boom but foundered in the mid-1970s as a result of regulatory strictures and rising inflation; federal deregulatory policies used to revive the industry backfired, triggering the collapse of thousands of thrifts. The roots of Strachan’s traditional journalistic training and idealization of U.S. society were central to his reputation for journalistic independence. He used his close contact with the industry to advance the newspaper’s journalism; insider knowledge allowed reporters to break important stories.