What the Public Needs to Know about the Banking CrisisAl Tompkins, Poynter Insitiute
The Lehman Brothers bankruptcy is the biggest in American history. The debts total $613 billion. Following on the heels of the Fannie Mae and Freddie Mac takeovers last week, it would be understandable if "average folks" were a little nervous about their own banks and investments. A fair number of your readers/viewers/listeners have been through Depression-era bank meltdowns and the more recent S&L crisis. But this is different. Way different.
Joe Strupp, Editor & Publisher
The Galveston (Texas) County Daily News apparently did not let a little thing like losing its roof in Hurricane Ike stop it from covering the storm. Despite the lost roof and the reduction of communication equipment (at one point down to a single cell phone), the daily paper has not missed an edition, the Houston Chronicle reported Monday. But distribution of the paper has been cut back, although editors promise all editions will eventually be delivered.
The Galveston (Texas) County Daily News apparently did not let a little thing like losing its roof in Hurricane Ike stop it from covering the storm. Despite the lost roof and the reduction of communication equipment (at one point down to a single cell phone), the daily paper has not missed an edition, the Houston Chronicle reported Monday. But distribution of the paper has been cut back, although editors promise all editions will eventually be delivered.
As a Matter of Fact
Howard Kurtz, Washington Post
Howard Kurtz, Washington Post
The anchor was giving the McCain spokesman a hard time. "Has your candidate gone too far? Has he stretched the truth with the voters?" spokesman Tucker Bounds was asked. In reply, Bounds repeated McCain's claim that Barack Obama would raise taxes.
Stock Slide Melts Media
Dade Hayes, Variety
Stock Slide Melts Media
Dade Hayes, Variety
Grim numbers cast a shadow over showbiz Monday as Wall Street endured a historic day of turmoil. The Dow’s 504-point drop — the worst one-day percentage decline since July 19, 2002 — followed Sunday’s triple-whammy of Lehman Bros.’ bankruptcy, Merrill Lynch’s sale to Bank of America and AIG’s flirtation with disaster. The S&P 500 also dropped almost 5% on the day.
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