Posts filed under “Financial Press”
Fascinating juxtaposition between the cover of this week’s Barron’s and the market action today: A bull, crying over the market, with the tissue box chart pointing downwards. (There were bullish articles inside, like this: America For Sale: Price Reduced)
That hit my inbox Saturday morning. Today, the Dow had its biggest single point gain ever: Dow Surges Nearly 1000 Points.
Pretty cool, no?
UPDATE: October 13, 2008 8:10pm
Speaking of contrary indicators:
The Washingtonpost.com has launched a video series, “Hard Times,” by Emmy Award-winning producer Travis Fox, that helps to translate how the financial crisis and market turmoil are affecting individuals across the country. The series is a reflection of the economic issues that will be a top priority for citizens voting in the presidential election.
Over the next couple of weeks, Fox will travel from California to D.C. talking with people in areas hardest-hit by home foreclosures, loss of retirement funds, unemployment, the rising price of food and gas and other economic challenges.
“Hard Times is meant to be a hard-hitting, poignant series focusing on the pain, suffering and dashed hopes of people brought about by failed economic policies on Wall Street — and how this all may affect the outcome of an historic presidential contest,” said Eric Pianin, Politics Editor at washingtonpost.com.
click for iTunes
Excellent series of podcasts by Tom Keene of Bloomberg on the Economy. Highlights include conversations with Nobel Laureates, professors and top economists.
If you don’t use iTunes, there is a listing of podcasts at Bloomberg.com after the jump . . .
Is the media coddling Banks and Brokers in their coverage? Gawker observes:
In July, when Richard Fuld was blaming rumormongers and short-sellers for troubles as Lehman Brothers, the Times ran a column by finance writer Andrew Ross Sorkin echoing his complaints and calling one of the rumors, that Barclays would acquire Lehman, "absurd." Today, with Barclays buying Lehman’s U.S. operations, the Times is still siding with investment banks over investors, depositors and others who benefit from the free flow of information. Here’s some data the paper won’t be providing about the mess on Wall Street, according to an article it published today:
"…said Lawrence Ingrassia, business editor of The Times. “We aren’t going to say, ‘Here are three or five institutions that might fail next week.’ It’s one thing to say an industrial company is having trouble paying its debts, and another thing to say it about a financial institution.”
The Wall Street Journal is also censoring itself on behalf of large banks. Its spokesman said the newspaper would "stay away from" the words "crash," "panic," "pandemonium" and "apocalypse."
Both interesting and amazing . . .
Hat tip Scott
Press Coddles Banks With Pulled Punches
Gawker, 8:41 AM on Mon Sep 22 2008
Gasparino vs Einhorn, Kohn & Ritholtz
TBP, June 05, 2008 | 01:52 PM
Amid Market Turmoil, Some Journalists Try to Tone Down Emotion
NYT, September 21, 2008
Category: Financial Press