Here's an interesting observation made to us about one of our recent posts on the US stock market crisis.
"You all have referred to events on Wall Street over the past couple days as a stock market crash. Is this your own interpretation of events? I've been following the events in the New York Times, Wall Street Journal, FT and other news outlets and am yet to see the market decline described as a crash. Indeed, a 5% fall in the market is not considered a crash. It's dramatic, yes, but not a crash. Also, it wasn't a broad market decline, but largely financial stocks that were affected (as to be expected).
"I just thought I'd point this out as you all often chide reporters for not getting the facts straight. We wouldn't want you all to fall into the Trini media penchant for sensationalism and hyperbole.
Thanks for the observation Mike. We certainly did not set out to sensationalize the issue, and we take your point.
We hope Curtis Rampersad of the Express will take to heart your point as well, since he also referred to the issue as a crash in his story on the AIG bailout in the Wednesday edition.
"There will be no immediate fallout but the crash in the US financial system and a global recession may inevitably affect investors and consumers in Trinidad and Tobago, a financial expert has suggested."