TV quickly spreads financial crisis

Has television coverage made the financial crisis worse? The question is based on this premise: Because so many people view market movements and worrisome economic events as they happen, they may panic, sell their investments and drive markets down further. All news comes faster these days through television and the Internet. But immediacy works both ways. Markets can rebound quickly whenever good news comes out. After the technology bubble burst, television was blamed for having been a cheerleader about the stock market's historic march upward, contributing to what former Federal Reserve Chairman Alan Greenspan had called "irrational exuberance." One problem television has had in covering the recent financial meltdown is that so much is changing minute by minute. Our financial system has undergone a quick, dramatic transformation. Live coverage makes the grim seem grimmer and the upbeat more upbeat.