Example Of Essay On "Comptroller Stringer: Billions In Pension Fund Fees Paid To Wall Street Have Failed To Provide Value To Taxpayers."
The story originated from the press release, covering the analysis conducted by the office of Scott M. Stringer, the New York City Comptroller. The article is written by Eric Sumberg with an aim of illustrating the need to review the investment fee structure. The story cover the billions of money that have been paid to the Wall Street but have not failed to provide to the taxpayers for the past decade. The article shows the magnitude of how the Wall Street has failed to deliver value to the consumers although they have been receiving an approximate of 2 billion over the period of 10 years. The writer has integrated a strong lead at the beginning of the story. The aim of the reporter is to inform the public that the deal between the New York City and the Wall Street is unbeneficial deal since the deal is not adding any value to consumers.
One of the various sources of information that has been utilized by the reporter to the New York Times story is interviewing the relevant people involved in the analysis. One of the persons they interviewed was the Comptroller Scott M. Stringer, who suggested that the Wall Street have been adding no value to the taxpayer, and yet they have been receiving payments. In the interview, Mr. Stringer claims “need to demand more value from Wall Street when they invest the hard-earned pension dollars of our workers,” because they receive substantial payment for this purpose (Sumberg).
The reporters have taken substantial information supporting that the investment management company, Wall Street has been receiving payment, and yet they fail to add value the relevant consumers. However, the reporter has failed to show the two side of the story. For instance, the reporter does not show the audience any response from the alleged side. The reporter failed to collect information from the Wall Street in order to have the other side of the story. The reporter bases his story on the analysis that was conducted by the office of New York City Comptroller. Therefore, the story is one-sided because it gives the story from the side of the supervising agent. As such, the reporter has provided media bias because the story is not balanced (Sumberg). However, the analysis includes other source of the information such as gathering historical performance data gathered by the Bureau of Asset Management.
However, although the story is one sided, the information provided can be considers as reliable information. This is because of the story is derived from an interview with the New York City Comptroller, and analysis conducted by Bureau of Asset Management and Chief Investment Officer Scott Evans. The analysis was based on the historical performance data in order to determine the performance of the pension fund for all assets in the period of ten years. Mr. Stringer, who is responsible for supervising the quality of the financial and reporting of organizations, strengthens the credibility of the analysis conducted. However, the story fails to cover the two side of the story by acquiring information from one side of the story. The reporter could have conducted an interview with the Wall Street representatives to enhance the reliability of the information.
Sumberg, Eric. "Comptroller Stringer: Billions in Pension Fund Fees Paid To Wall Street Have Failed To Provide Value to Taxpayers." New York City Comptroller: Scott M. Stringer [New York] 9 Apr. 2015: n. pag. Web. 12 Apr. 2015. <http://comptroller.nyc.gov/newsroom/comptroller-stringer-billions-in-pension-fund-fees-paid-to-wall-street-have-failed-to-provide-value-to-taxpayers/>