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A late sell-off on Wall Street saw the Dow Jones Industrial Average end the week at slightly lower levels than last week. NBC anchor Brian Williams had Jim Cramer of CNBC's Mad Money debrief him on the prospects for the financial markets: in just one week "worries have increased." Highest anxiety stemmed from the bankruptcy of a major mortgage company--so ABC assigned Betsy Stark (subscription required) to concentrate on housing: "Panicked lenders are cracking down," demanding high credit ratings and documented income, she declared. "The days of no-money-down and instant approval are over." Stark concluded with the "sobering thought" that $600bn in adjustable rate mortgages are due to be reset with higher monthly payments over the next 18 months.
The money story on CBS had a Sex and the City theme as Kelly Wallace showed us a sitcom clip to illustrate a reverse gender gap in wages among twentysomething urbanites: females in that demographic earn more than their citydwelling male peers. Wallace wondered whether that girlpower edge would continue "when they grow gray." But Wallace's initial premise was flawed since the lead characters of Sex and the City fall outside the cohort in question. Even during their first season in 1998, all four were older than 30.
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