PEJ News Coverage Index: Mar. 23 - 29, 2009, Geithner's Plan Drives the Narrative

Report Read time:
PEJ News Coverage Index: Mar. 23 - 29, 2009, Geithner's Plan Drives the Narrative

The media's ever-changing economic narrative shifted again last week, moving away from a reviled insurance company toward a beleaguered Obama Administration official. 

With Treasury Secretary Tim Geithner unveiling a financial sector rescue package and calling for stricter regulation, the economic crisis was once again overwhelmingly the top story last week. It filled 41% of the newshole from March 23-29 as measured by the Pew Research Center's Project in Excellence in Journalism. While that represented a drop from the previous week's coverage (53%), it is in line with the overall level of attention to the crisis (43%) in the two months since Barack Obama was inaugurated. The No. 2 story last week, concerns over Mexican drug smuggling, was about one-seventh as big as the economy.

Geithner's proposal to clean up the so-called “toxic assets” made him the week's second-biggest newsmaker, behind only Obama. At a time when public perception and confidence can have a significant impact on the economy, the Treasury Secretary was looking for what golfers call a mulligan—or in more common parlance, a do-over.  Back on February 10, when he first outlined a financial sector bailout proposal, Geithner was widely panned for poor presentation, criticized for a lack of specifics and blamed for a 382-point drop in the Dow that day. (“Geithner Plan Lacks Freshness and Clarity,” declared the Washington Post headline that pretty much summed up the coverage.)

Geithner's March 23 proposal generated a warmer reception, particularly on Wall Street where the Dow shot up 497 points. “This Time, Geithner's Plan for Banks Makes Sense,” declared the headline on business writer Joe Nocera's New York Times column.  Praise was far from unanimous, though, and a Congressional hearing held during the week kept some of the focus on AIG.

Read the full report Geithner's Plan Drives the Narrative on the Pew Research Center's Project for Excellence in Journalism Web site.

America’s Overdose Crisis
America’s Overdose Crisis

America’s Overdose Crisis

Sign up for our five-email course explaining the overdose crisis in America, the state of treatment access, and ways to improve care

Sign up
Quick View
America’s Overdose Crisis

America’s Overdose Crisis

Sign up for our five-email course explaining the overdose crisis in America, the state of treatment access, and ways to improve care

Sign up

MORE FROM PEW

About a dozen people stand examining large blue bins full of whole fish in a warehouse. Some people are in green clothes, others in blue, and all wear ballcaps. A few hold clipboards. Reducing Risk Strengthens the Seafood Supply Chain
A worker in a seafood market dumps bright orange shrimp from a blue bin onto a bed of ice between a lot of other seafood laid out for sale. Other workers are visible in the background, as are the arms of shoppers placing orders from the other side of the ice bed. Seafood Industry Benefits From Greater Vessel Transparency
An aerial view of a vast wetland, with scattered vegetation visible on sandy islands. In Western Australia, a Conservation Model for the World
A presentation being given by a businesswoman to a group of participants at a business conference. Four Plan Features Can Boost 'Retirement Readiness'
Composite image of modern city network communication concept

Learn the Basics of Broadband from Our Limited Series

Sign up for our four-week email course on Broadband Basics
Quick View

How does broadband internet reach our homes, phones, and tablets? What kind of infrastructure connects us all together? What are the major barriers to broadband access for American communities?

Pills illustration
Pills illustration

What Is Antibiotic Resistance—and How Can We Fight It?

Sign up for our four-week email series The Race Against Resistance.
Quick View
Pills illustration

Antibiotic-resistant bacteria, also known as “superbugs,” are a major threat to modern medicine. But how does resistance work, and what can we do to slow the spread? Read personal stories, expert accounts, and more for the answers to those questions in our four-week email series: Slowing Superbugs.