Vanderleun:
NY Times Stock Dumps Below $10. Times to Become a Junk Bond. And Now This!
Dateline New York, London, Paris: With American and world markets still reeling from a financial crisis based on the uncertain value of subprime mortgages, journalists took a second hit today when it was revealed that much of their subprime news is defaulting at a higher-than-advertised rate....
“The smaller news sources – your sports scores, local elections, and police reports – we think those still have value. It’s the big news outlets like the Associated Press and the NY Times that are in trouble. They’re holding a lot of Obama and McCain news that they’ve invested in heavily. These have been repackaged and sold to other outlets on the secondary market.”
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