Reuters ahead on key developments in Treasury’s financial rescue plan

Reuters was ahead on key developments in the government’s bailout of the U.S. financial services industry. Among the major Reuters’ beats and exclusives were: First on Oct 24 with news that Treasury had allocated government funds for capital injections into about 20 of the medium-sized and smaller U.S. banks. Bloomberg matched the news 11 minutes later, with the Wall Street Journal also trailing. Reuters was also first on Oct 24 with news that the Treasury was considering extending aid to the insurance industry. It took the Wall Street Journal and others at least two-and-a-half hours to catch up. The news pushed the KBW Insurance index of insurer stocks into the positive.