Accountability without election

The work explores the role of the media in the financial crisis 2007–2010. The author investigates whether the media were able to accurately convey, to voters, the complex processes and political responsibilities in the policy field of financial market regulation, and thus ensure that there is effective control of policy actors. The work focuses on the media’s role in the exercise of democratic control of independent regulatory agencies in the financial sector. The work concludes that “independent” financial market supervision, at least in times of crisis, is by no means as autonomous as it would appear. It is fully integrated into the public discourse, with feedback effects on the way in which it delivers its services.