Illinois Bond Fraud

The Securities and Exchange Commission reported that the authorized financial authorities of the Illinois state have allegedly perpetrated inadvertent financial fraud involving public bonds issued within the framework of the federal pension system. The situation was widely discussed by the national and international media agencies. The aim of this report is to examine the articles on the related issues published in the national leading Agency the New Your Times, and the reaction of the British Broadcasting company. This report examines the way the information has been expounded to the targeted audience, the bias of the press and personal standpoint to the outlined information

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First and foremost the articles differ significantly in the way the editorial staff compose them. Naturally, for the entire United States public community this process is negative to the very utmost. The essence of the situation is that the State of Illinois wrongfully informed the public bonds investors of their genuine value. To be more exact, the investors were informed that the changes in the statutory plan did not take place, while in reality substantial alternations to the plan have been made and the value of the bonds was reduced, whilst the purchasers continued to buy them at their initial price.

The difference in the way the information is provided by the different media agencies is completely justified due to the fact that the U.S. press unit instinctively tries to vindicate the Illinois financial authorities, stating that although the violation of the law indeed took place, the investors were not damaged and the claim has already been settled. The accent is made on the fact that the investors were unharmed. The editors of the BBC in their turn produced the article neutrally, merely enlisting the fact and delivering the feedback of the public.

Personally, I consider the situation flagrantly disgraceful for the U.S.A. as a state, but the way the information is given is completely justified. However, the way the British agency informs the community is more appealing due to the fact that neutrality and unbiased nature are taken into account.

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