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NYT's Joe Nocera: The Worst Is Yet To Come: Anonymous Banker Weighs In On The Coming Credit Card Debacle

NYT's Joe Nocera: The Worst Is Yet To Come: Anonymous Banker Weighs In On The Coming Credit Card Debacle : [ Daring Fireball ]

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Interesting banker email posted at New York Times blog

In reporter Joe Nocera's New York Times blog last week: The Worst Is Yet To Come: Anonymous Banker Weighs In On The Coming Credit Card Debacle .

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But...that makes sense!

What if financial vendors were paid in part with the very things they were selling? Think they'd be a little more likely to make sure their products were useful? Joe Nocera of the NY Times suggests a way to restore trust in the financial industry.

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The root cause of the financial crisis

... time and that are crushing banks, insurance companies, and just about everyone else right now. Joe Nocera prints an anonymous letter that indicates that these bad practices will soon come back around and ruin the credit card issuers themselves. Here’s an example he provides: I recently had a client apply for a credit card. She is a homemaker, with no personal income. The house she lives...

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Finance as Breaking News

What role does business media play in the current financial saga? Did the business press fail by missing the warning signs of the financial crisis? Is there too much pressure to avoid negative coverage? And what are the lessons learned? Panelists: Liz Claman, Anchor, Fox Business Network Chrystia Freeland, U.S. Managing Editor, Financial Times Joe Nocera, “Talking Business” Columnist, The New...

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Fact, Voice, Blogs and the Times

... stories and expressing prescriptive opinions on them. He instanced recent cases, including Joe Nocera and Andrew Ross Sorokin (both covering General Motors and opining strongly on whether bankruptcy versus federal financial support is the better policy) and Gretchen Morgenson (covering Congressional hearings on credit rating agencies and separately opining on the credibility of the agency...

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TRUCKMAKERS' NEWS * USA - Navistar, the sole independent manufacturer of trucks and buses in the United States

New York,NY,USA - The New York Times, by JOE NOCERA -November 28, 2008: -- ... I had gone to Chicago to learn about the effects of the credit crisis on a large, industrial, somewhat under-the-radar company called Navistar , the sole independent manufacturer of trucks and buses in the United States... Founded at the turn of the last century as a maker of agricultural equipment, it was known as...

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Out of the Spotlight * USA - An Industry Copes With Crisis

New York,NY,USA - The New York Times, by JOE NOCERA -November 28, 2008: -- ... The credit crisis is rippling up and down the economy in ways that may not create obvious headlines but that affect the way people do their business and live their lives. People, for instance, who sell and drive trucks... Like most companies in America right now, a crucial issue for G. David Gerrard , who runs a Chicago...

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"All the...That's Fit to Print"

... slip. Sorkin's column crossed the line and became prescriptive, as Keller said, but I think Nocera’s did too. And if it isn't all right to have a reporter write a column about a news article he or she is covering on the same day, why is it all right three days later? Times editors acknowledge that there is a risk to the paper’s credibility if they don't manage the mix of news and opinion...

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The Public Editor: Expert Opinions, From Neutral Observers

... wiped out, management is tossed out and the industry is completely reorganized.”His colleague, Joe Nocera, came down on Nov. 22. Maybe G.M. needs “the harsh slap of bankruptcy” to force it to change, he said. “But let’s not go down that road until there truly is no other choice. We’re not there yet.”Sorkin’s column, with its blunt tone, led to a spirited discussion in the newsroom. Craig...