OLD Media Moves

Why was WaMu's failure not front-page news everywhere?

September 29, 2008

Hal Morris, writing on his Grumpy Editor blog, wonders why one of the largest bank failures in America’s history didn’t merit front-page coverage in papers across the state.

Washington MutualMorris writes, “Among key newspapers that didn’t see the demise of WaMu as front page news were the Boston Globe, Denver Post, Baltimore Sun, Detroit News, Detroit Free Press, Miami Herald and Las Vegas Review-Journal.

“Among those with a one-line, front-page ‘refer’ to inside pages were Chicago Tribune, Los Angeles Daily News, St. Louis Post Dispatch, Cleveland Plain Dealer and USA TODAY.

“Giving it heavy front-page play were Seattle Post-Intelligencer and Seattle Times, close to WaMu’s downtown Seattle headquarters, New York Times, Los Angeles Times and Philadelphia Inquirer.

“Lesser front page coverage came in the Washington Post, San Francisco Chronicle, San Diego Union-Tribune and Dallas Morning News.

“Also overlooked in most news coverage was that WaMu grew rapidly in recent years through acquisition of giant Los Angeles area S&Ls — American Savings, Great Western Financial and H. F. Ahmanson & Co., parent of Home Savings of America.  Home Savings itself at one time was the nation’s largest S&L.”

Read more here.

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