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NBC coverage


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NBC coverage

  1. 1. Coverage of the Financial Crisis Andrew Catalano, Veronica Houk, Cecilia Kohler, Elizabeth Ritter, and Martin Weiss
  2. 2. Introduction <ul><li>Business Journalism: “ tracks, records, analyzes, and interprets the economic changes that take place in a society.” </li></ul><ul><li>NBC Nightly News </li></ul>
  3. 3. Videos <ul><li>March 13, 2007: http: //tvnews . vanderbilt . edu .proxy.lib. umich . edu/tvn-video-view .pl?RC=861306 </li></ul>
  4. 4. Coverage Before the Crisis <ul><li>Effective: accurately portrayed the housing bubble with ample support and evidence from economists and other experts, but did so in a way that was understandable to NBC’s audience; touched on parties involved - investors, brokers, banks, investment firms; presented possible risks and consequences of bubble </li></ul><ul><li>Ineffective: insufficient amount of facts from expert sources; comparatively, too many accounts from everyday consumer level and not enough from other levels in loaning process; specific interviewees potentially insubstantial in representing overall population; optimistic tone masking threats to economy </li></ul>
  5. 5. Headline: Through the Roof: Real Estate Prices Climbing to Record Levels; May 31, 2005 <ul><li>Remarks on housing bubble; likens to 90s internet bubble; refers to Alan Greenspan’s term (“froth”) - appeal to expert to confirm bubble exists </li></ul><ul><li>Personal account: single, female schoolteacher, “There's no guarantees in life, but I've never lost money. I've always made money. The least I've made on a property has been $20,000” </li></ul><ul><li>Economist’s perspective: Yale professor, Robert Schiller </li></ul><ul><li>defines bubble: “time when people stretch to pay more than they otherwise would because they have grand expectations for future price increases” </li></ul><ul><li>reveals possible negative outcome of bubble: “the problem is that when you have this extraordinary fixation of national attention on a market, it can cause a spiking of the market and then a reversal” </li></ul><ul><li>More words of caution from economist Mark Zandi: “problem if house prices indeed go flat or begin to decline” </li></ul><ul><li>End on personal, optimistic note: interviewee not worried, “confident she can build her nest egg before any bubble springs a leak.” </li></ul>
  6. 6. Headline: Economy: Stock Market, Subprime Mortgages; March 13, 2007 <ul><ul><ul><li>subprime mortgages </li></ul></ul></ul><ul><ul><ul><li>“ Easy lending environment for several years now…” </li></ul></ul></ul><ul><ul><ul><li>“ High anxiety over housing market” </li></ul></ul></ul><ul><ul><ul><li>“ Will this bleed into the broader economy?” </li></ul></ul></ul><ul><ul><ul><li>Affects the average person because this slows down the economy… “so far we haven’t seen a big effect…some people are forecasting a recession led by the housing market” </li></ul></ul></ul>
  7. 7. Coverage During the Crisis <ul><li>Effective </li></ul><ul><li>Ineffective </li></ul>
  8. 8. Headline
  9. 9. Coverage After the Crisis <ul><li>Effective </li></ul><ul><li>Ineffective </li></ul>
  10. 10. Headline:
  11. 11. Closing Remarks