For many years, I have been reading the Wall Street Journal …. nearly 50 years. I was always aware how ineffective the WSJ was in the world.
I remember in the 1960s an article on problems at Cessna Aircraft. The article had no effect on the price of the stock nor on the behavior of the company.
I speculated, for 40 years, that the toothless quality of the WSJ was due to the fact that the editors didn't write articles in a series to follow up on uncovered misdeeds nor did they complement articles with polemic editorials.
This has changed, probably thanks to Rupert Murdoch who bought the paper in order to have influence. Possibly making him one of the most influencial people in the world.
The most stunning example of the new WSJ activism and success is that the WSJ found and brought up the issue of Nancy Pelosi's insider credit card trading. Less than two months later both the House and the Senate have passed a bill intended to significantly reduce insider congressional trading.
That is the power of the activist WSJ, the largest circulation newspaper in America.