Anderson Cooper is leaving 60 Minutes after nearly 20 years.
If you’re a news junkie like me, that headline hits hard. It’s not just about one anchor wanting to spend more time with his kids—though, frankly, who can blame him? It’s a marker of a shifting tide.
We’re watching the slow dissolution of “appointment television” and the erosion of the massive, well-funded newsrooms that used to be the gatekeepers of our information.
Cooper’s departure comes amidst significant turmoil at CBS News, including reports of looming layoffs affecting up to 15% of the staff. And they aren’t alone. The Washington Post announced recently they’re cutting a third of their staff. The LA Times has been reducing staff for years.
Across the board, legacy media is tightening its belt, cutting research departments, and asking fewer reporters to do more work.
Why should you care? Because when newsrooms shrink, fact-checking can often be the first casualty.
In a world where financial “advice” is now dished out in 60-second TikTok clips by 22-year-olds with no credentials, the barrier between you and a bad investment has never been thinner.
The trust deficit is real
We all feel it. The days of trusting a single anchorman to tell us “that’s the way it is” are long gone.
According to the 2024 Edelman Trust Barometer, the media is now “actively distrusted” by a significant portion of the global population. In fact, business is now seen as more competent and ethical than the media. That’s a staggering shift. We’re more likely to trust our employer than the evening news.
But here’s the problem: You still need information. You need to know if the Fed is cutting rates, if that new tax law affects your 401(k), or if that high-yield savings account is legit.
If you can’t blindly trust the screen, you have to become your own editor. Here is my personal checklist for vetting financial news before I make a move with my money.
1. The “lazy citation” check
When you read a startling financial stat—like “Social Security is going bankrupt in three years”—look for the link.
Reliable financial news cites its sources. And I don’t mean a link to another blog that links to a tweet. I mean a direct link to the primary source.
The gold standard is data from .gov sites (like the Bureau of Labor Statistics), major academic institutions, or official agency reports. Checking official records is vital because even government agencies make mistakes that can cost you.
If an article makes a bold claim but forces you to hunt for the proof, close the tab.
Related: See Social Security Never Warns Workers About This Deadline
2. Watch out for the “urgency” trap
Scammers and clickbait artists love urgency. They want you to feel like you’re missing out right now.
Real financial journalism rarely screams. It analyzes. If a headline uses all caps, promises “secret” knowledge, or tells you that you have a “limited time” to act, your skepticism radar should be pinging.
We’ve covered this before: urgency is a hallmark of fraud. Whether it’s a “limited time” investment opportunity or a tax scam, the goal is to bypass your critical thinking.
Related: See Tax Scams Catch 1 in 4 Americans Off Guard
3. The AI and deepfake factor
With newsrooms cutting staff, cheap content is filling the void. And a lot of that content is being generated by AI.
We’re seeing a rise in “pink slime” journalism—websites that look like local news outlets but are actually churning out AI-written partisan content or clickbait. Even worse are the deepfakes. We’re seeing videos of trusted figures (like Elon Musk or Warren Buffett) appearing to endorse crypto scams.
If a video looks slightly “off”—maybe the lip-sync is a millisecond delayed, or the tone of voice is oddly flat—don’t click the link in the bio.
Related: See Watch Out for These 6 Increasingly Common AI Scams
4. Audit the author, not just the outlet
In the old days, the masthead of the New York Times or Wall Street Journal was enough. Today, even reputable sites host “contributor” networks or sponsored content that looks like news.
The source still matters, of course. It’s the first thing I always look for when I’m doing research. If I don’t recognize the source, I generally won’t click. We’re living in a world where anyone will write or say anything for web traffic. It’s never been more critical to get information from a source you know and trust.
And before you take advice, always check the author.
Do they have a bio? Are they a Certified Financial Planner (CFP) or a CPA? Or are they a “content creator” with a history of writing about everything from cat food to crypto?
(This seems like a good time to offer my personal references. I’ve been offering financial advice in various capacities since 1981. I’ve earned licenses as a CPA as well as in stocks, commodities, options, life insurance, real estate and securities supervisory. I’ve been awarded two Emmys, written thousands of articles and published three books through major publishers.)
If you can’t verify the source and the author, don’t trust the math. And if you’re looking for personalized advice, it’s usually worth paying for a vetted professional rather than relying on a free article.
Related: See “7 Signs Your Accountant Is Costing You Money—and How to Pick a Better One” on Money Talks News).
5. Follow the money
Finally, always ask: Cui bono? (Who benefits?)
Financial media is a business. If an article is raving about a specific life insurance policy or a gold IRA, check the disclosure at the top or bottom of the page. Is it sponsored content? Does the site get a kickback if you click?
There’s nothing inherently wrong with affiliate links—we use them too to keep the lights on—but a reputable publication will always disclose them clearly. If they’re hiding their financial incentive, they’re hiding other things too.
The bottom line
Anderson Cooper leaving 60 Minutes is a reminder that the media landscape is changing. The institutions we grew up with are evolving, and not always for the better.
You can’t outsource your due diligence anymore. Read widely, verify everything, and when in doubt, sit on your hands. In finance, the boring, double-checked answer is usually the right one.
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