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Sign on the old historical archive in Santa Fe, New Mexico.
One chilly day last September, United Airlines' stock temporarily crashed more than $1 billion due to an accidental re-release of an old news report about its 2002 bankruptcy. The New York Times reported that "shares of United traded at one cent... down 99.92 percent, or $12.29." Other news sites and blogs quoted or linked to the NY Times story.
Shortly afterwards, the NY Times article changed.
Today, the New York Times article from Sept 8, 2008 instead reads "United Airlines shares fell to about $3 from more than $12 in less than an hour before trading was halted... Its shares closed at $10.92, down 11.2 percent." There is no record of that earlier statement on the NYTimes site. There is no indication in the article that a correction or previous release was made. It's almost impossible to find the earlier version online, except in a few personal reports and isolated quotes on random sites. Months ago there were blogs with comments that referred to the $.01 low point, which have now mostly disappeared. The statement they refer to does not seem to exist in public archives.
Fifty years ago, physically published mainstream newspaper articles provided a fairly high degree of reliability: physical copies were distributed throughout the country, and then locally archived. Corrections necessarily left an audit trail. Readers could go to trusted custodians at their local libraries to verify that certain information had been released by a major central news source.
Nowadays, the fox is guarding the henhouse. Major publishers offer their own global public archives, and a decreasing number local libraries are archiving printed news articles. "[N]ews libraries have stopped clipping newspapers because so much of the information is available online," write Christine Malesky and Richard Geiger in "News Media Libraries." Unlike librarians, publishers do not have strong incentives to retain comprehensive records of revisions, errors and corrections. Instead, news publishers want to preserve the very "best" article possible.
At the New York Times, the online editors run a "continuous news desk," which is "kind of an in-house re-write desk that feeds the Web site," said Toby Usnik, director of public relations for the Times. "As we know new information, we add it. As information changes, we update it. If we misspell a name we spell it right and update the story again." (OJR) History is routinely rewritten.
With respect to the United stock crash, Kim Zetter of Wired wrote "the problem wasn't the market, it was the newspaper's archive, which stored the story without a publication date attached to it -- not a completely uncommon occurrence."
As publishers, not librarians, increasingly store and provide access to their own media archives, readers lose the ability to independently verify the source, date and original content of news articles. If the world economy hinges on verifiable information, why not cryptographically sign articles as soon as they're published? Ironically, the same unreliability that caused the United stock crash also manifested itself in the NYTimes article which reported it.
The United Airline stock crash was really just a tremor, the symptom of a profound global shift. Last month, millions of people in the UK were suddenly blocked from editing Wikipedia after the Internet Watch Foundation (IWF) blacklisted a single page. This was able to occur because "95 per cent of British residential internet" traffic is reportedly routed through only six ISPs, which "voluntarily" send traffic through a centralized content filtering system called Cleanfeed at the request of the IWF. (Wikipedia) This week, the point was underscored when another IWF blacklist suddenly left many UK residents without access to the Internet Archives (aka the Wayback Machine).
In both the recent Wikipedia and Wayback Machine cases, end users quickly detected the blocks, public outcry ensued, and most access was restored. However, now that traffic filtering in the UK has become automated and centralized, future blocks could certainly go unnoticed by end readers. The current Cleanfeed implementation has been rather crude, in that it has been used to block entire pages and web sites in response to a single objectionable image. However, it is technically possible to quietly drop (or replace) "questionable" images and text much more subtly.
The "voluntary" British ISP filtering has more in common with China's censorship than many Westerners realize. In China, "the ISPs and other service providers are restricting customers' actions for fear of being found legally liable for customers' conduct. The service providers have assumed an editorial role with regard to customer content... Although the government does not have the physical resources to monitor all Internet chat rooms and forums, the threat of being shut down has caused Internet content providers to... stop and remove forum comments which may be politically sensitive." (Wikipedia)
East and West, a little fear goes a long way.