We have something of a love-hate journalistic phenomenon today.
It concerns what was our Number One news story yesterday: "BofA May Face $12 Billion
Thinking
Credit Cards Charge: KBW."
Today the headline is: "KBW Now Says BofA Won't Face $12 Billion Charge."
Yes, seems an analyst over at Keefe, Bruyette & Woods had to redo his calculations of what some accounting rule changes will do to Bank of America's bottom line. I'd hazard a guess that the recalculations came after some heated calls from Bank of America .
Here's the love part of the situation: We get another story that readers gobble up. Indeed, my traffic counters are telling me that it will likely be another top news story for the day.
The hate part? Flip-flopping headlines are never good for readers as a whole. Confusion is not part of the mission, regardless of whether the confusion is your fault or not. Real money is at stake ... witness the market's dipsy-doodle after Nouriel Roubini's remarks last week.
