He talks from 23 mins on the Guardian's behaviour over Cablegate. The following bit starts at 39 mins: 

"There's a point I want to make about perceived moral institutions such as the Guardian and the New York Times. 

The Guardian has good people in it. It also has a coterie of people at the top who have other interests. David Leigh is the brother-in-law of the Editor in Chief, Alan Rusbridger. He is protected there to a degree. 

What drives a paper like the Guardian, or the New York Times, is not their inner moral values, it is simply that they have a market. In the United Kingdom there is a market called 'educated liberals'. Educated liberals want to buy a newspaper, they buy the Guardian, and therefore an institution arises to fulfil that market, and that institution needs to be managed. And those people at the top of that institution simply manage the institution that fulfills that market. What is in the newspaper is not a reflection of the values of the people that are in that institution, it is a reflection of the market demand for particular material. Not a reflection of good values. 


http://www.youtube.com/watch?v=BplfViSKd6Y#t=1438

 

He is right on the money