 |
         
|
ABC anchor Charles Gibson was quite frank about the reason for not covering the Treasury Department's plan in depth: "When you start saying 'reform to the financial regulatory system' I think people's eyes just glaze over." Nevertheless his network's Betsy Stark filed a brief explainer on Treasury's plan for three "uber-agencies," one to cover the financial markets, one for the banking system and one for consumer businesses. Stark saw no chance of immediate change "in the final months of a lame duck administration with a housing crisis and a sick economy to manage."
CBS gave the story a college try, assigning Anthony Mason to lead off its newscast with the prospect that the Federal Reserve Board "would become Wall Street's supercop." Yet Mason noted that Paulson's plan falls short since "there is no regulation of those complex securities that were used to dice up all those bad subprime loans and sell them off to investors. They are really at the root, the cause, of this whole mortgage mess and the credit crunch. They are not addressed at all in this."
NBC hardly covered the Paulson story, satisfying itself with a brief soundbite from its sibling financial news cable channel, CNBC.
You must be logged in to this website to leave a comment. Please click here to log in so you can participate in the discussion.
