THE EVOLUTION OF AN AP STORY

THE EVOLUTION OF AN AP STORY

Economic Dynamite

(Press Blowing out the Fuse?)

From March 21, 2001

THREE DIFFERENT VERSIONS OF THE

GREENSPAN COLUMBIA U. STORY,

FROM NEWEST TO OLDEST (AP)

(Note the changes in the last paragraphs. Interesting...)

7:37 PM EST

Greenspan Lectures at Columbia

-------------------------------------------

Story Filed: Wednesday, March 21, 2001 7:37 PM EST

http://library.northernlight.com/ED20010321580000065.html?cb=0&dx=1006&sc=0#doc

NEW YORK (AP) -- In a guest lecture that reunited him with Al Gore Wednesday, Alan Greenspan told the former vice president's Columbia University journalism students that their worth in the news business would hinge on their integrity.

Students who attended the Federal Reserve chairman's lecture quoted him as saying, ``A journalist's market value is his or her reputation.'' Reporters and tape recorders were barred from the classroom under university rules, but students gave an account of Greenspan's remarks.

Greenspan avoided talk of the rate cut the central bank ordered Tuesday, which disappointed investors who had hoped it would be larger and was blamed for a big decline in the stock market. He also steered from questions about President Bush's tax plan, although he has supported limited tax cuts.

``It was an open-ended, light and informal atmosphere,'' said David Gruber, 28. ``But he did tiptoe around a lot of questions viewed as controversial.''

Gore was less restrained, students said.

At one point, as the class pondered whether economies typically come out of a recession rapidly -- seen on a graph as a ``V'' shape -- or more slowly -- seen on a graph as an ``L'' shape -- Gore suggested that ``it comes out as a 'W' if it's a really bad government policy.''

Some students took it as an obvious jab at President Bush, who defeated Gore in last year's election.

==================================

6:30 PM EST

Greenspan Addresses Columbia Class

------------------------------

Story Filed: Wednesday, March 21, 2001 6:30 PM EST

http://library.northernlight.com/ED20010321340000025.html?cb=0&dx=1006&sc=0#doc

NEW YORK (AP) -- A day after investors griped and moaned about a smaller-than-desired cut in interest rates, Federal Reserve Chairman Alan Greenspan wasn't talking -- at least not about the economy.

In a guest lecture Wednesday to former Vice President Al Gore's journalism class at Columbia University, Greenspan stuck to his planned topic of ``the economy and the media.''

He advised them to remember integrity and caution in an era of around-the-clock reporting, noting that ``a journalist's market value is his or her reputation,'' students said afterward.

Reporters and tape recorders were barred from the classroom under university rules.

``It was an open-ended, light and informal atmosphere,'' said David Gruber, 28. ``But he did tiptoe around a lot of questions viewed as controversial.''

Among them: the Fed's interest rate cut and President Bush's proposed tax cut. Members of the Fed's chief policy-making group follow a practice of not speaking about monetary policy the week before or of a Fed meeting.

The Dow Jones industrial average has fallen more than 470 points over the past two days since the Fed cut interest rates by 0.50 percentage point. Many investors were hoping for a cut of at least 0.75 percentage point.

Gore was less restrained, however, students said.

At one point, as the class pondered whether economies typically come out of a recession rapidly or more slowly -- in what is seen as a ``V'' or an ``L'' on a graph -- Gore suggested that ``it comes out as a 'W' if it's a really bad government policy.''

It was an obvious jab at President Bush's proposed tax cut, said Sharon Otterman, 28.

Greenspan made no comment, but gave Gore a high-five. Greenspan has publicly expressed support for a limited tax-relief plan.

========================================

5:44 PM EST

Greenspan Lectures at Columbia U.

----------------------------------------

Story Filed: Wednesday, March 21, 2001 5:44 PM EST

http://library.northernlight.com/ED20010321170000020.html?cb=0&dx=1006&sc=0#doc

NEW YORK (AP) -- A day after investors griped and moaned about a smaller-than-desired cut in interest rates, Federal Reserve Chairman Alan Greenspan wasn't talking -- at least not about the economy.

In a guest lecture Wednesday to former Vice President Al Gore's journalism class at Columbia University, Greenspan stuck to his planned topic of ``the economy and the media.''

He advised them to remember integrity and caution in an era of around-the-clock reporting, noting that ``a journalist's market value is his or her reputation,'' students said afterward.

Reporters and tape recorders were barred from the classroom under university rules.

``It was an open-ended, light and informal atmosphere,'' said David Gruber, 28. ``But he did tiptoe around a lot of questions viewed as controversial.''

Gore was less restrained, however, students said.

At one point, as the class pondered whether economies typically come out of a recession rapidly or more slowly -- in what is seen as a ``V'' of an ``L'' on a graph -- Gore suggested that ``it comes out as a 'W' if it's a really bad government policy.''

It was an obvious jab at President Bush's proposed tax cut, said Sharon Otterman, 28.

Greenspan made no comment, but gave Gore a high-five. Greenspan has publicly expressed support for a limited tax-relief plan.

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