Former NYT reporter Edmund Andrews delivered a devastating critique of a Tuesday WSJ story that purported to show that new financial regulations would hurt farmers. http://bit.ly/9ubTCE
As a former WSJ reporter I was shocked to read through the whole story and find no evidence of actual impacts. Worse, there wasn't even any cogent explanation of how any individual farmer was likely to be directly impacted.
I admired the Journal for going beyond the usual Washington-bureau article about vote-counting on the Senate floor and whether there are enough Republicans signing on to make it a bi-partisan bill. We need more stories that look at the real world impact of what Washington does.
But it's disappointing when a reporter goes out to Nebraska, talks to some pretty intelligent farmers, dealers and co-op managers and comes back with a story that doesn't actually demonstrate that the legislation will have any impact. At the least, the reporter should have found someone to say that spreads on derivative contracts are likely to rise by two-cents per hundredweight or something. Then we could get some idea of the magnitude of the issue.
As Ed wrote, the headline certainly led readers to expect more than the story delivered.
Biden takes a wrong step
1 week ago
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