Article analysis (1)

Global Fears of a Recession Grow Stronger
By MARK LANDLER
Published: October 6th, 2008
http://www.nytimes.com/2008/10/07/business/worldbusiness/07global.html?hp

The article describes the growing inability of the $700 billion bailout to halt the economic crisis domestically and much less internationally. This information is derived from the two-part-summary lede: “When the White House brought out its $700 billion rescue plan two weeks ago, its sheer size was meant to soothe the global financial system, restoring trust and confidence. Three days after the plan was approved, it looks like a pebble tossed into a churning sea”.

The next three paragraphs can be considered as an extended nut graf. They serve to illustrate the “so what” of the article. In this case, the “so what” is the fact that the bailout plan has done little to help quell foreign fears of recession. “The crisis that began as a made-in-America subprime lending problem and radiated across the world is now circling back home, where it pummeled stock and credit markets on Monday. [The bailout plan] seems to have done little to reassure investors, particularly in Europe, where banks are failing and countries are racing to stave off panicky withdrawals”.

The killer quote, by an economist from M.I.T., starts the eighth paragraph. “It looks pretty ugly…everybody is going to get caught up in this”. This quote serves to open the following body paragraphs that suggests that there needs to be a greater internationally coordinated response to the financial meltdown.

The article concludes with a very effective kicker. “Just as the U.S. rescue plan may not be enough,” he said, “a U.S. stimulus plan by itself will not be enough.”

Written in an inverted pyramid format, this article is a hard news story because it is dealing with timely events and facts. Much of the supporting paragraphs depict the differing and counter-productive efforts being taken by, specifically, the European countries.