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Apr 13, 2009

What happens to business news coverage when the crisis ends?

The New York Times has an article about the mainstream media's sudden rush and newfound urgency to report business news. As the crisis impacts almost everyone, news outlets are desperately trying to meet the surging demand for these stories.  According to freelance business editor and writer Jim Impoco, "in this news cycle, the press has become obsessed with Treasury Secretary Timothy F. Geithner and Edward M. Liddy, A.I.G.'s dollar-a-year C.E.O., that even Octomom and Rihanna have trouble grabbing air time and column inches." Impoco also points out that suddenly everyone has an opinion about the financial markets, even the "talking heads who once prided themselves on their inability to balance their own checkbooks." 
But Impoco warns that the intensive financial news coverage might not last. As soon as the crisis is over or even starts to lose steam, he notes, "the news media will likely retreat from the business story again." He believes now is the perfect opportunity for economic and financial news to find its "rightful place alongside politics, sports and entertainment." 
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