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September 22, 2008

Wall Street Troubles Ahead

The New York Times financial analyst Peter Goodman had a fantastic article on the current market crisis. Goodman went into enough detail to filll in an uninformed person as to what the details of the governments plans for the future of our economy will be. His use of sources was quite good, quoting a former vice chair of the Federal Reserve and also an NYU business professor. I came away from this article feeling like I knew what the possible plan would do and how it would do it. I didn't get that from the others that i read.

The Wall Street Journal article from Hitt, Palletta and Solomon seemed to focus more on the political aspect of the crisis and not as much on the economics of it as the Times did. This may be due to the normal readership of the Journal being more knowledgable in regards to finances than the average Times reader. Also there is a very 'government involved' discussion between the reader and the author in the Journals coverage. When I say that i mean that they very much go into the politics of it and not just the basics of who is passing what and for how much.

The local Star Tribune coverage from the AP was adequate for someone that didn't want an in-depth look at every facet of bailout. While covering the major players it didn't have the completeness that the New York Times had nor the government twist that the Wall Street Journal had. The Star Tribune covered the issue of the buyout with a very brief and summarized piece that didn't get into too much detail. It was basically a nuts and bolts type of coverage...here are the issues and here is what the Fed and Reserve said they'll do about it.