Journalism

Yes, Michelle Obama set some hearts a flutter and generated some headlines when she laid hands on the Queen last week. But most of the coverage of the President’s overseas trip focused on the same challenge he faces at home.

The economic crisis again dominated blogs and social media last week, as the conversation expanded from AIG to several different elements of the financial meltdown. And the most viewed video was an overseas variation on the same theme.

Another aspect of the financial crisis took center stage last week as the storyline moved from the AIG bonuses to Tim Geithner’s plan for “toxic assets” in the financial sector. The verdict is far from final, but Geithner seemed to at least stem a recent run of negative news.

With the AIG bonuses fueling outrage, the economic crisis received more attention from the social media last week than any other topic since PEJ began its NMI two months ago. And the week’s most viewed video was a casting call that turned into a stampede.

Last week, the economic meltdown generated its highest weekly level of coverage since the crisis exploded last fall. And the majority of media attention was focused on a three-letter acronym that became a four-letter word.

Bloggers last week focused on reports and predictions involving major changes to some of the country’s prominent institutions. And their verdict was mixed on whether these potentially dramatic developments were heartening or ominous.