September 19, 2008
There is no shortage of analysts trying to make sense of the crisis on Wall Street. Bill Moyers speaks to two well-versed voices NEW YORK TIMES business and financial columnists Gretchen Morgenson and Floyd Norris to discuss who wins and who loses in the financial turmoil. Their conversation ranges from the mortgages to derivative, the SEC to the Glass-Steagall Act. Get additional analysis and information below.
In the light of the Friday, September 19 actions by the federal government, Floyd Norris has posted his thoughts, "Bailout Nation," on the NEW YORK TIMES Web site.
Gretchen Morgenson is assistant business and financial editor and a columnist at the NEW YORK TIMES. She has covered the world financial markets for the Times since May 1998 and won the Pulitzer Prize in 2002 for her "trenchant and incisive" coverage of Wall Street.
Ms. Morgenson joined The TIMES as assistant business and financial editor in May 1998. Previously, she was assistant managing editor at FORBES magazine since rejoining the magazine in March 1996. Before that, she was the press secretary for the Forbes for President campaign from September 1995 to March 1996.
From August 1993 to August 1995, Ms. Morgenson was the executive editor at WORTH magazine. As the number two editor, she oversaw all financial coverage. She also wrote an investigative "Full Disclosure" column monthly.
From November 1986 to August 1993, she was an investigative business writer and editor at FORBES magazine. She broke the story of anti-investor practices on the Nasdaq stock market that was followed by Justice Department and SEC investigations. Earlier, she oversaw several FORBES investing sections and their Washington bureau.
From January 1984 to November 1986, she was a staff writer at MONEY magazine.
Ms. Morgenson was a stockbroker for Dean Witter Reynolds in New York from September 1981 to January 1984.
She began her career at VOGUE magazine as an assistant editor in August 1976. By the time she left the magazine in July 1981, she was a writer and financial columnist
She is the author of FORBES GREAT MINDS OF BUSINESS, and co-author of THE WOMAN'S GUIDE TO THE STOCK MARKET.
Floyd Norris is the chief financial correspondent of THE NEW YORK TIMES and writes a weekly column for the financial section.
He was named to that post in September 1999, after spending a more than a year as a member of The Editorial Board of The TIMES. He joined the paper in October 1988 as a financial columnist, a position he held until he joined the Editorial Board in May 1998.
Before joining The TIMES, Mr. Norris had been with BARRON'S NATIONAL BUSINESS AND FINANCIAL WEEKLY since December 1982, where he began as a staff writer and subsequently was promoted to stock market editor. He began writing "The Trader" column in mid-1983 and was cited by the New York Society of Certified Public Accountants for outstanding reporting on accounting issues in 1984. In 1998, he was cited by the Financial Writers Association of New York for outstanding lifetime achievement.
Mr. Norris began his career in journalism as a reporter for the College Press Service, a news service for college newspapers, in September 1969. He has also worked for THE MANCHESTER (N.H.) AMERICAN, a newspaper he helped to found, he was a reporter for THE CONCORD (N.H.) MONITOR and UPI. In 1977 and 1978 he was press secretary to, then, Sen. John Durkin. From 1978 to 1981 he was a business writer and editor for the Associated Press. He and his wife, Christine Bockelmann, compiled and edited THE NEW YORK TIMES CENTURY OF BUSINESS, which was published by McGraw-Hill in late 1999.