From CBC.ca:

Five of Britain's top financial journalists appeared at a government hearing in London on Wednesday, rejecting accusations that their reporting caused panic and helped escalate the financial crisis in the U.K.

An independent committee comprising members of the British parliament have been investigating the U.K.'s banking crisis and questioning different players in the industry.

Journalists from the BBC, the Financial Times, the Daily Mail, Sky News and the Guardian said that even if they had held back their stories about failing banks, the problems at the institutions would have existed.