In a heavily amateurish move, ABCNews.com attributed a dip in an already sinking Dow to President Bush's speech on the economy with a top headline story in its home page rotation.
"Dow-ner: Bush Speaks, Stocks Drop; Friday address marks 10th time Bush has recently spoken on volatile markets," the teaser headline read.
The story in question took the skilled labor of a grand total of four ABCNews staffers, chief among them Martha Raddatz. In her lede she noted the Dow dropped 107 points in the course of the seven minutes President Bush spoke from the White House on the ongoing financial crisis.
But it seems Raddatz, along with Lisa Chinn, Jon Garcia and Kate Barrett wrote too soon. The market rebounded from its deepest losses earlier in the day to close down only 128 points.
What's more, the Dow's has been firmtly entrenched on a downward slide since the Friday that Congress passed and President Bush signed a Wall Street bailout deal. The free-fall on Wall Street despite concerted government action should raise questions by journalists about the wisdom and necessity of the bailout in the first place.
But why report the news objectively when you're dedicated to bashing Republicans and boosting the Obama ticket.
Perhaps that's why Newsweek rushed to also assign a down arrow in its daily "Conventional Wisdom" feature to President Bush:
"DOWN: Amid jittery markets, his speeches don't seem to help."
—Ken Shepherd is Managing Editor of NewsBusters





















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Here's one for ya
October 10, 2008 - 16:28 ET by mattmHere's one for ya MSM:
Obama's lead holding steady: DOW drops.
Markets predict the future - has this been forgotten?
October 10, 2008 - 16:32 ET by w0tmAs I’m sure you've all heard and read many times, "the market anticipates future events". In the back of my mind I have a suspicion most of the current financial chaos is anticipating Obama as president and a congress that has enough Democrats to do whatever they want. Not just a housing mess. The number of homes that are at least 3 months behind in mortgage payments is still just a few percent. That could not cause what is going on. For an economy as large as ours to go from wealth building capitalism to "beggar thy neighbor" socialism in a short period of a year or two is something not seen seen since Russia in 1917. I believe business and the market is predicting an abrupt change to socialism. The ancient Mayan calendar says the end of the world arrives December 21, 2012. Could be true.
Headline
October 10, 2008 - 16:34 ET by NorthCoaster"(Chuck Shumer/Nancy Pelosi/Harry Reid/Barney Frank) open mouths, World Markets loose 1/2 their value in 2 weeks!"
Remembering the DOW, Gore and the MSM - 2000
October 10, 2008 - 16:41 ET by Gary HallRemembering the DOW, Gore and the MSM - 2000.
Actually Ken. It was my fault. I was involved in a good discussion on the markets this morning - well, on the phone with my retired parents - and as we talked, the DOW dipped back down about 500 pts. Then I talked it back up - to 200 pts. up, and said goodbye. Look at the finish. Darn. I'll never forgive myself for not hanging on the phone just 20 minutes longer. I need a better calling plan.
Seriously now. Remember the 2000 election? In the weeks that followed there were, at times (several occasions), a flurry of major breaking news stories on the battle between the sore looser Gore and President-elect Bush. As one challenge after another was launched and as another court ruling or decision poured in, the market gyrated wildly - much as it did today. On some days these stories came in almost rapid fire succession. I started noticing a trend right away - the MSM never caught on. When the news favored a Bush victory, the markets almost instantly swung positive. When the news favored Gore, the markets almost instantly went negative. This happened dozens of times. Again and again, we'd see the reporters deliver the news, then note the markets; I never heard a soul on MSM make the connection. (:~> gary.
While ABC's "coverage" was indeed "amateurish"
October 10, 2008 - 16:51 ET by R D Helm...and they deserve to be called out for it, it doesn't change the fact that that "speech" by George W. Bush this morning was one of the most boring, uninspiring and passionless speeches I have ever heard.
If I had been the Dow, I would have sunk, too.
If the Bush Administration wishes to inspire confidence in an American public that is rapidly losing theirs, they need to find somebody else to trot out before the public who doesn't appear to be broken-down and beaten.
If you ask me, this is one of the reasons so many (including me) have lost respect for both this man and his presidency.
What is more, I believe Mr. Bush, though certainly well-meaning, has so damaged his party, not to mention the conservative movement, that Barack Obama may very well be 25 days away from being elected POTUS.
Sorry, but that is the way I see it.
-Dave
If this nation is to be saved, it will be libertarian principles that save it.
Bush is helping drive the market through the floor
October 10, 2008 - 17:46 ET by PopularTechThis idiot's socializing the mortgage and financial industries, allowing the fed to pump trillions of dollars into a credit bubble that is trying to come back to reality and blowing billions of tax dollars to save Goldman Sachs. I am so happy this idiot thinks inflation will solve the problem.
What sort of idiot comes on TV declaring financial armageddon and another depression and enacting policies that will cause it!
Instead Bush could have leveled with the American people and told them that we must start saving money again, allowed a necessary recession to happen, liquidate Fannie Mae, Freddie Mac and ALL the investment banks, cut taxes, cut spending and instill confidence back in the market. And for the love of god let GM fail! GM is the most clueless automaker and couldn't forecast to save their life.
Yet Chuck Schumer had nothing
October 10, 2008 - 16:43 ET by YahooWatcherto do with the IndyMac failure. Interesting.
It seems
October 10, 2008 - 18:43 ET by Jack Herman"The One's" speeches are having no positive effect either. Since he's already been declared by the MSM, whenever he speaks, the DOW should climbs.
Messiah my ass.
Odds on Stupidity
October 10, 2008 - 20:52 ET by thericoDwayne P. Theriot
Once again the stupidity of the MSM is on display for all to see. What's really laughable is seeing just how much of a race it is between these idiots to see who can be the stupidist first. I think Las Vegas should start taking bets and giving odds, just like a horse race.
A little off, but please read
October 10, 2008 - 22:10 ET by sjanus11Lets's talk about pissed
October 10, 2008 - 14:48 ET by sjanus11
barry tries to keep troops in country longer..............read article then read link about the FELONY he commited.....This story broke 2 weeks ago and died, Maybe MSM is doing their job for once....Pass it every where....we thought this was nail in coffin
http://washingtontimes.com/news/2008/oct/10/obama-sought-to-sway-iraqis-on-bush-deal/
The Logan Act is a United States federal law that forbids unauthorized citizens from negotiating with foreign governments. It was passed in 1799 and last amended in 1994. Violation of the Logan Act is a felony, punishable under federal law with imprisonment of up to three years.
The text of the Act is broad and is addressed at any attempt of a US citizen to conduct foreign relations without authority. However, there is no record of any convictions or even prosecutions under the Logan Act.[1][2]
"If your 20 and not a Liberal, You have no Heart. If you are 40 and not a Conservative, You have no Brain" Sir Winston Churchhill
"If your 20 and not a Liberal, You have no Heart. If you are 40 and not a Conservative, You have no Brain" Sir Winston Churchhill
Socialism: Dems MASTER PLAN
October 10, 2008 - 23:36 ET by TN MomGuess abc missed hearing sen. harry reid, democrat, saying that "a huge insurance company is on the verge of collapsing" reid stated to reporters during bailout. I heard insurance companies lost over 18 billion in stock market fall after reids comments.
oh, and what about sen. chuck shumer from NY, also a democrat- of course, and the chairman of bank finance in the senate writing a letter warning about the stability of IndyMac bank which 2 days later had a 'run on the bank' and was taken over by feds.
Fannie/freddy controlled by dems who 'cook the books'...on and on..
This is more than coincidence....THIS WAS THE DEMOCRAT PLAN ALL ALONG TO MOVE TO A SOCIALIST COUNTRY!!
oh.my.god...
We are forked in more ways
October 10, 2008 - 23:41 ET by bigtimerWe are forked in more ways than one... no matter how you look at it TNM...
I am so disgusted.
"America isn't the problem...America is the solution." ~ Rush Limbaugh
Shine On Palin!
October 11, 2008 - 00:40 ET by TN MomBigtimer,
The one really BRIGHT spot....Gov. Palin!!!!!!!
And I have to believe there are more like her out there, on our side, fighting for the good!
So what is Bush's excuse? Compassionate Conservatism = Socialism
October 10, 2008 - 23:44 ET by PopularTechBush's 'American Dream Downpayment Act of 2003' (Lew Rockwell)
Bush 'No Money Down' - Tax Payers Will Pay (Video) (6min)
Bush seeks to increase minority homeownership (USA Today)
Ron Paul: "Rescue Plan = More of the same"
October 10, 2008 - 23:41 ET by PopularTechRon Paul: "Rescue Plan = More of the same" (Video) (3min)
People don't understand that they doing exactly the same things that caused the great depression and prolonged it. By trying to prevent the market from correcting they are making the situation worse.
Yes correcting mean unemployment and bankruptcies but we need to get it over as fast as possible not prolong it for years!
PT.. You don't
October 10, 2008 - 23:57 ET by bigtimerPT..
You don't understand, I know all about Paul, I have stated long ago I agree with him about all with the exception of defense of this country...he is an isolationist// that is my problem with him.
Trust me.
Nevertheless....I heard him today on the Fox Business Channel...
Three Cheers...I could not agree more!
I have had my fill of BS with McCain...he erases any gains made since the debate for one example ....he capitulates...I am tired of it...I have watched him in the Senate as may years as I have watched Paul in Congress.
I will be so glad when this is over....some of us here who are usually in total agreement about majority of issues are getting hard feelings or intimidated to say anything ...I find that sad.
"America isn't the problem...America is the solution." ~ Rush Limbaugh
600 million dollar Obama spends 1 million on a half hour
October 11, 2008 - 00:33 ET by Lame CherryWhere is the perspective on Barack Obama's running through money like grass through a goose?
My state announced like 49 others today that the retirement investments for teachers, state retirees etc... just dropped 1/4 in value in the stock market.
Granted this is a market adjustment in benefits which will be paid, but I wanted to highlight what the liberal media will not touch.
Barack Obama collected and spent what appears to be 600 million dollars in 19 months. He will spend almost 1 million dollars in this crisis manufactured for him for a half hour on CBS.
In a Kirk Douglas movie named Posse, Douglas plays an Obama type character who is going to be elected to government for catching Bruce Dern. Dern tells him, "That is horse sh*t your getting into office over his dead body".
Frankly it is horse sh*t that Obama is closing in on a billion dollars flying around the world, paying for cartoon characters and dead people to vote for him in fraud ballots and right now only the demons in the Obama financial cavern have any idea just where that money all went. I know it sure as heck never went to helping one person like his living in a hut brother George in Kenya.
America is suffering through a staged market collapse to get Obama elected. Who is making billions? Soros and Buffett who both back Obama.
Who is spending almost a billion while people can't afford to heat their home and are deciding on medical care or eating.
I don't expect that liberal trash from news groups to give a care about real people nor about what is right, but I do know even their seared souls are going to wake up one night realizing what they have done.
Sure you can run from the networks and hide out in some midwestern market but it will follow you. The faces of people you could have helped, but left to the Obama plunder.
You watched Obama take 5 dollar donations from people who could not afford it and didn't say a thing you media lurkers as you knew very well Lawrence Sinclair was telling the Truth. I know very well which ones of you were milking Sinclair for information and trading it to keep tabs on him, just like you do on all these Obama stories.
What are you going to do when Fitzgerald brings Obama down and if it works out you will have Hillary Clinton with her long list with your name on it media types. She will get you just like she started on Chris Matthews.
You don't love America and don't care about a thing of value by proof of your burying stories on Obama.
Dean Reynolds is apparently the only one who has figured out what filth Obama is with a twinge of his morals in daring to report it.
When are you going to get a conscience liberal press? The day you see Obama drop a nuke in the Pashtun knowing it was your boy who you kept quiet about not ready for the job with blood on your hands?
Maybe it will be Damascus incinerated so you can see your dead body count mounted with the dead you caused in Iraq.
Maybe it will be New York in an Islamocommunist nuclear attack as you wander around the rubble knowing you might not survive in 2 weeks for radiation poisoning.
Thank yourself liberal press. Thank your producers who you know are killing your stories as you tally up the dead.
Want to be someone who is remembered members of the press. Get a site with 5 of your ilk who know what you know and put up the real stories and send it to Drudge. You will have 30 million hits in one day.
Sure you won't work again for the media, but in your united journalists you will have the first trusted media source in America.
But go back to your Letterman cocktail crowd in your racism, bigotry and hatred conning yourselves you are better..... ignore your boy and his cronies did this economic rape and you were the big whore servicing them and will be dumped off the plane when the election is over.
*HIC IACET ARTORIVS REX QVONDAM REXQVE FVTVRVS
Sources? This is getting REAL old
October 11, 2008 - 03:38 ET by PopularTechYou keep posting long drawn out conspiracy drivel with not one source or fact to back up anything you claim.
Please keep pretending that the crisis has nothing to do with the ridiculous amount of debt people have combined with the lowest personal savings in recent U.S. history...
Is the Amazing US Debt Productivity Decline Coming to a Bad End? (Enlightened Economics)