Posts filed under “Financial Press”
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
WSJ: NYT: > Sources: Markets Soar, but New Rules Upset Traders VIKAS BAJAJ, ANDREW ROSS SORKIN and MICHAEL J. de la MERCED NYT, September 18, 2008 http://www.nytimes.com/2008/09/20/business/worldbusiness/20markets.html U.S. Bailout Plan Calms Markets, But Struggle Looms Over Details DEBORAH SOLOMON and DAMIAN PALETTA WSJ, SEPTEMBER 20, 2008 http://online.wsj.com/article/SB122186549098258645.html
I have yet to really play with the new WSJ.com, but it looks slicker than the old version. The most significant change — besides the colors and layout — is the community side of it. You can now post comments on every single WSJ published story. I am not sure how that will ramp up….Read More
Check out Nouriel on CNBC this morning — he is guest hosting, and makes so much sense it makes the rest of the guest list look almost silly.
My boy Chris Whalen also had a good spot, worth checking out.
shouldn’t distract investors from the present peril of financials, says Chris
Walen, Institutional Risk Analytics co-founder/managing director
the World Economic Forum’s report with U.S. leading the rankings and UK second.
Details with Kevin Steinberg, World Economic Forum COO and Nouriel Roubini,