Why do the mainstream media spurn “conspiracy theories”?
There are powerful norms among political, economic, and media elites that discourage speculation about corruption in high office. In elite discourse, convention prohibits suspicions from being voiced about top officials unless their guilt can be proven unambiguously by “smoking gun” evidence. This norm does not come from the principle in American jurisprudence that suspects are considered innocent until proven guilty. The presumption of innocence was never intended to outlaw suspicions. Rather, it calls for suspicions to be tested with thorough and fair investigations grounded by procedural rules for procuring and presenting evidence. Norms against conspiratorial speculations in elite discourse function to protect the legitimacy of elites as a class.