An Observation on the Coverage of the S&P Downgrade
One thing I noticed in the Sunday show coverage yesterday was that no one seemed to mention that only one of three main bond ratings agencies downgraded the US. It was as if the only source of bond ratings was Standard and Poor’s and that everyone else did not exist.
I watched substantial portions of Meet the Press, Fox News Sunday, and This Week.
Indeed, it seems that most coverage in general seems to ignore the fact only S&P downgraded the US although certainly a lot of print (I use the term loosely) have mentioned the Fitch Group and Moody’s.
I suppose it just sounds more dramatic to focus on S&P and it underscores a problem with news coverage (and, quite honestly, even blog writing): full explanations take up time and space.