Today's Front Pages Analysis
Biggest bailout yet gets biggest headline
“You need to go no farther than your morning newspaper,” Sen. Christopher Dodd of Connecticut told Good Morning America’s Diane Sawyer today at the Newseum when discussing the gravity of the planned government rescue of banks.
From Boston and Philadelphia to Portland and Los Angeles, the proposed intervention by the federal government to shore up the country’s financial woes was today’s lead headline.
“Citing Grave Financial Threats, Officials Ready Massive Rescue,” The Washington Post said. “Treasury says it eyes options for protection from bad debts,” The Philadelphia Inquirer said in a three-story package. The Boston Globe called the proposal “A plan to stop the bleeding.”
The Seattle Times asked: “Biggest bailout ever?” Newsday on Long Island described it as “The Bailout to End All Bailouts.”
The Los Angeles Times analyzed the proposed solution to the financial crisis and asked, “Is a relief agency the right answer?” The Salt Lake (Utah) Tribune used an illustration to explain the “Economic balancing act.”
Reaction to the plan was a “Crazy day on Wall Street,” The Cincinnati Enquirer said, noting a 410-point gain in the Dow. The Oregonian of Portland said, “Wall Street bounces back as officials consider relieving lenders of bad mortgages in what would be the biggest U.S. bailout yet.”
A year later: An aerial view of the new Mississippi River bridge was pictured above the nameplate of the Star Tribune of Minneapolis. It’s been about a year since the old I-35W bridge collapsed, prompting nationwide concerns about infrastructure.
Moving on, moving in: The Detroit News divided its page in half vertically to report on the last day of a mayor “brought down by scandal” and the first day of the city’s new leader.
Waiting, wondering: Six days after Hurricane Ike hit Texas, residents in Galveston and Houston remain “uncertain, frustrated trying to put lives back in order,” the Galveston County Daily News said. The newspaper, which has served its readers despite struggles, said in a front-page note that home delivery is returning. The Houston Chronicle promoted four online chats about dealing with the storm aftermath. Its centerpiece story focused on cleaning up: “Have chain saw, will work.”