But even if I’m wrong about a story here or there, no news organization in the world has reach, resources, and prestige to match up to this crisis, this particular moment in history. If Murdoch wants to be a great newsman, it is getting late.
1. Deal Fees Under Fire Amid Mortgage Crisis —- Guaranteed Rewards Of
Bankers, Middlemen Are in the Spotlight
By Liam Pleven and Susanne Craig
17 January 2008
The Wall Street Journal
A1
2. How Goldman Won Big On Mortgage Meltdown —- A Team’s Bearish Bets Netted Firm Billions; A Nudge From the CFO
14 December 2007
The Wall Street Journal
A1
3. Banks Owe Billions to Executives
The Wall Street Journal
31 October 2008
A1
4. New AIG Rescue Is Bank Blessing —- Buyers of Insurer’s Default Swaps Would Recover Most of Their Money
By Serena Ng and Liam Pleven
12 November 2008
The Wall Street Journal
C1
5. AIG Faces $10 Billion In Losses On Bad Bets
By Serena Ng, Carrick Mollenkamp and Michael Siconolfi
10 December 2008
The Wall Street Journal
C1
6. SEC Chief Under Fire as Fed Seeks Bigger Wall Street Role —- Cox Draws Criticism for Low-Key Leadership During Bear Crisis
The Wall Street Journal
23 June 2008
A1
7. Anatomy of the Morgan Stanley Panic —- Trading Records Tell Tale of How Rivals’ Bearish Bets Pounded Stock in September, by Susan Pulliam, Liz Rappaport, Aaron Lucchetti, Jenny Strasburg and Tom McGinty.
The Wall Street Journal
Nov. 24, 2008:
A1
8. Lehman Finds Itself In Center Of a Storm
By Susanne Craig
The Wall Street Journal
18 March 2008
9. Two Big Funds At Bear Stearns Face Shutdown —- As Rescue Plan Falters
Amid Subprime Woes, Merrill Asserts Claims
By Kate Kelly, Serena Ng and David Reilly
20 June 2007
The Wall Street Journal
A1
10. The Two Faces of Lehman’s Fall —- Private Talks of Raising Capital Belied Firm’s Public Optimism
By Carrick Mollenkamp, Susanne Craig, Jeffrey McCracken and Jon Hilsenrath
The Wall Street Journal
6 October 2008
11. Behind AIG’s Fall, Risk Models Failed to Pass Real-World Test
By Carrick Mollenkamp, Serena Ng, Liam Pleven and Randall Smith
The Wall Street Journal
3 November 2008
12. Hi, My Name Is Fred, And I’m Addicted to Credit Cards —- In the Debt-Soaked Economic Slump, Americans Find Solace in Support Groups
The Wall Street Journal
10 June 2008
13. This Year, More Than Ever, It’s Tough to Be a Compulsive Shopper
The Wall Street Journal
15 December 2008
Thank you for this.
Posted by Josh Young on Thu 25 Dec 2008 at 04:21 AM
What a brilliant piece! Not only did I learn about standards of exemplary journalism, I also learned about our current economic crisis. Great review.
Posted by Yigal on Sat 27 Dec 2008 at 08:27 AM
Smart piece. I, too, agree that in its rush to be breezier/faster/bigger, the WSJ has abandoned those qualities that made it different - hence attractive - to that affluent readership that NEEDED to have the paper every day. These days, WSJ informs, but does not educate. It reports, but does not enlighten. It offers information, but has little insight. Time was the Journal told you what happened behind the scenes or instructed you on really interesting developments in different industries. Now all it does is try to spark circulation gains by running alarmist headlines on its front page and short articles so bereft of data that a glance at the headlines is all one needs to know what's going to be communicated. I feel like it's another journalism layoff notice: The WSJ has left its position and will not be replaced. In its stead is a publication that is most definitely not a must read in any circle.
Posted by snout on Tue 30 Dec 2008 at 01:36 PM
I agree with snout. The WSJ has become so thin on relevant information that I've decided to stop getting the print product. When a company cuts back on quality and jacks up the price, I see no reason to keep giving them my hard-earned dollars. I can buy USA Today for $1 and get more information on sports and entertainment. It's a shame that no big media outlet is covering the business sector with vigor on a day-in day-out basis
Posted by argybargy on Tue 30 Dec 2008 at 03:02 PM
Strong review. Very comprehensive, though I still say the whole gang--NYT, WaPo, WSJ & everyone--should have been telling us derivatives were dangerous 10 years ago. Also, I think you mean 1100 reporters at the NYT--not 110? and the Ferrari Enzo is $1.2 million, not $1.2.
Posted by ed ericson on Wed 31 Dec 2008 at 06:37 PM
"The FT is a fine little paper, just like Britain and Australia are fine little countries. But the FT’s newsgathering operation in this crisis has been irrelevant. It effectively has no investigative capability."
Whoa! Let's put aside the snide remark about Britain and Australia, and concentrate on the journalism here. Yes, Bloomberg has done a great job. But for those wanting to understand the crisis, the FT has been the only newspaper to read. American publications can publish all the "narratives" they want, but a key element of journalism is making sense of apparently random events through thought-provoking analysis. The FT has done this in exemplary fashion. Irrelevant? No. Irreplaceable - absolutely.
Posted by paul abrahams on Mon 12 Jan 2009 at 10:20 PM
Isn't this the same Paul Abrahams who worked (or still does?) for the FT. Typical of British journalism to fail to divulge that sort of information
Posted by handsby shbanlina on Fri 16 Jan 2009 at 01:06 PM
ha ha ha WSJ 2007 on the skids, or in them.
Rupert Murdoch has struck a deal to acquire The Wall Street Journal and its parent company, Dow Jones & Co.
Merrill Lynch was hired by the Bancroft family's chief trustee to evaluate the Murdoch bid, but it's also part of a banking syndicate that agreed to lend News Corp. $2.25 billion in May.
Posted by paul short on Fri 6 Mar 2009 at 11:49 AM