When the New York Times today told its readers about the massive Henry Waxman-Ed Markey 648-page draft global warming bill, it bent over backwards to report the pros and cons of the proposal.
The March 31 story, supplied by Darren Samuelsohn and Ben Geman of Greenwire:
* Included sponsor Rep Waxman's claim that "this legislation will create millions of clean energy jobs, put America on the path to energy independence, and cut global warming pollution," without a balancing rebuttal or reference to the economic damage passage of the bill would almost assuredly cause.
* Followed that favorable quote by California liberal Democrat Waxman with a favorable quote by California liberal Democrat Speaker Nancy Pelosi.
* Followed those two favorable statements with seven sentences quoting Democrats Rep. Charles Gonzales (D-TX), Tammy Baldwin (D-WI), and Rick Boucher (D-VA), who have quibbles on the margins about the proposal but who like the concept.
On the March 28 World News Saturday, ABC correspondent John Hendren observed that the "pure adulation" formerly shown for President Obama in Europe has now faded as the President prepares for the G-20 summit in London to convince the group of economic superpowers to adopt his plans to increase spending to stimulate the economy. After anchor Dan Harris introduced the report noting that "Mr. Obama is facing a huge challenge on this trip, convincing reluctant European leaders to rescue the global economy his way," Hendren began his piece:
JOHN HENDREN: "The last time President Obama came to Europe, it was pure adulation. But now, Mr. Obama is President in the midst of a global economic crisis. Next week, he will try to persuade 19 other heads of state that they must sign on to his rescue plan and increase government spending in their own countries as he has here, signing a $787 billion rescue plan. Germany's Angela Merkel has criticized the plan and European Union chief Mirek Topolanek calls it-
In the second hour of MSNBC’s “Morning Joe”, correspondent Savannah Guthrie gave a live report on the upcoming G-20 summit from London. This was a fairly straightforward report, hitting on issues that the major parties were interested in hammering out – the French want more financial regulation, for example. And then, at the very end of the report, Mika Brzezinski threw a hanging curveball. Guthrie did not disappoint:
And to think we were "only" worried about having a known Tax Cheat overseeing everyone's taxes.
With Barney Frank's help, Treasury Secretary Tim Geithner is trying to expand his power (and by inference that of his Dear Leader boss) well beyond that. The "Pay for Performance Act," which has already gotten out of committee, would give him veto power over salaries at every company into which the government has inserted its intrusive claws.
Besides the utter outrageousness of the news itself, the story leads to the question of how the establishment media will handle it. Whitewash it? Minimize its significance? Ignore it? Given the fact that the news is over a week old, I vote for a continuation of Door Number Three.
This week I took on Treasury Secretary Tim Geithner for capitalizing on the A.I.G. crisis he helped foment by trying to seize even more regulatory authority. Stephen Moore described the plan as handing Geithner "judge, jury and execution" authority.
One Fox News Channel anchor said Vladimir Putin is probably "smiling," at the thought of Geithner's new plan. But since the networks have had Geithner's back for some time they are unlike to challenge him the way one Congressman did this week.
Want a little populist outrage? There's nothing like hearing it from a multi-millionaire advertising mogul with a spot on CNBC.
Donny Deutsch, the host of "The Big Idea," a show the network has shelved, explained to viewers on the March 25 broadcast of "CNBC Reports" he wants measures put in place to keep prevent people he regards as "idiots" from making $10 million a year.
"The issue is even now, with the new asset program, basically if it works, the taxpayer's taking up all the risk," Deutsch said. "God forbid it doesn't work, taxpayers are really going to take it on the chin. And let's say we get it right and the banks are lending again and everything is fine again - what is now put in place on Wall Street to make sure idiots are not getting paid $10 million a year?"
It is one thing - as Rush Limbaugh has been vilified for - to say you have a desire for the president to fail, but what about accusing the president of wanting his own policies to fail?
That's what Fox News Channel's Dick Morris said on the March 25 broadcast of "Your World with Neil Cavuto." According to Morris, those who are criticizing Obama for his spending, including Daniel Hannan, who represents South East England for the Conservative Party, made famous by a YouTube video eviscerating Keynesian politics, are missing the point. Obama wants to worsen the economic conditions to expand the powers of government according to Morris.
"We are confusing in analyzing the bank bailout and in what Hannan, the other guest you had on - the British Parliamentarian, had on, was also confusing - means with ends," Morris said. "He said, for example that more spending won't solve the recession. Obama doesn't want it to. He wants the recession to permit him to do more spending, and in terms of this bank package, he knows that the public-private partnership isn't going to work. He's doing his best to kill it by all these comments."
On Wednesday’s Countdown show, the duo of MSNBC host Keith Olbermann and new CNBC contributor Howard Dean delivered a gem of both double standard and apparent amnesia as both generalized about the inappropriateness of calling any President a "fascist." As Dean was interviewed by Olbermann, who famously called President Bush a "fascist" in a "Special Comment" rant last year which was even picked up by Iranian television, the former DNC chairman bluntly stated his view that even President Bush did not deserve to be called by such a name.
And just as Olbermann seemed to be trying to defend his own history of applying the "fascist" label to Bush, which he did not directly acknowledge, even he stopped short of proclaiming outright that such name-calling could sometimes be rational, as he contended that a person doing so "may be crazy" and "may be wrong." Olbermann: "If you have a case to call somebody a ‘fascist,’ lay it out. Define your terms and say where you, I mean, you may be crazy and you may be wrong, but at least put some meat on the bones."
Dean's response: "Even in the darkest days of the Bush-Cheney administration, I don't think there was any reason to call George Bush a fascist."
Talk about unintended consequences. All this populist anger ginned up by congressional Democrats, the media and the Obama administration is going to hinder the Treasury Department's strategy to rescue the banking system.
Paul Krugman, the liberal New York Times columnist and winner of the 2008 Nobel Prize in economics explained to Bloomberg News on March 24 that this is just what is happening.
According to Krugman, the backlash caused by bailed-out American International Group (AIG) compensation debacle and efforts by Congress to limit other expenditures - private jets, office redecorations, salaries, etc. - is causing otherwise healthy financial institutions to shy away from accepting and keeping Troubled Asset Relief Program (TARP) money from the federal government.
Perhaps this post could be headlined "CNBC Continues to Atone for Its Outspoken Obama Criticism."
As if announcing Democratic National Committee chairman and former Vermont Gov. Howard Dean as a "CNBC contributor" weren't enough, CNBC has invited the editor in chief of one of the its biggest critics to guest co-host one of CNBC's most popular shows.
Originally reported in a status update from Arianna Huffington's Facebook page on March 24, and later confirmed by Huffington herself in an e-mail with the Media Research Center, the co-founder and editor-in-chief of The Huffington Post will co-host CNBC's "Squawk Box" on March 31.
Could this be another case of a chastened CNBC succumbing to criticism from the left to improve its image?
Just a day after CNBC named former Democratic National Committee chairman Howard Dean a CNBC contributor, an uncharacteristically soft-spoken CNBC "Mad Money" host Jim Cramer, appeared on NBC's March 24 "Today" along with CNBC "Squawk on the Street" co-host and "Street Signs" host Erin Burnett. In a tone similar to the apologetic one he had earlier this month on Comedy Central's "The Daily Show," he complimented President Barack Obama's rhetoric toward high executive compensation.
"We have to put the shareholders somewhere in the equation," Cramer said. "When these CEOs make so much money, it hurts the shareholders. We have to be pro-shareholder. The president has become pro-shareholder."
It's the latest ailment of the left - CNBC derangement syndrome.
Since CNBC's Rick Santelli and Jim Cramer took an outspoken stance on the shortcomings of the Obama administration, left-wing storefronts have been popping up all over the place wanting to capitalize on the network after it took a vicious attack from Comedy Central "The Daily Show" host Jon Stewart.
On Friday, MSNBC's Rachel Maddow accurately blamed a bill enacted in 1999 for today's financial crisis, but in so doing exclusively pointed accusatory fingers at its Republican sponsors while totally ignoring the overwhelming Democrat support it received in both Chambers of Congress.
Maybe even more egregious, she chose not to address it being signed into law by President Bill Clinton until a guest inconveniently brought it up.
Of course, NewsBusters has been apprising readers about the significance of the Financial Services Modernization Act of 1999 (aka Gramm-Leach-Bliley) for many months, including articles on the subject here and here.
With this in mind, despite Maddow's supposed intellectual prowess, she's not only extremely late to this party, but she also apparently thinks only the sponsors of a bill are responsible for its content and not those that vote for or eventually sign it into law (video part I embedded right, part II below the fold with partial transcript):
For the second day in a row, CNBC "Squawk on the Street" co-host Mark Haines took on a Democratic congressman over the issue that American International Group (AIG) paid out too much in bonuses for a company that received federal bailout money.
On March 19, Haines took on alleged tax cheat Charles Rangel, questioning whether or not he should be dictating tax policy while the House Ethics Committee investigates him for his tax problems. On CNBC's March 20 "Squawk on the Street," Haines took on Rep. Brad Sherman, D-Calif. on the issue.
Sherman contended the 90-percent tax on bonuses exceeding $250,000 that the House passed 328-93 didn't go far enough. He said a government receivership would have been the proper way to handle AIG, and not the bailout method the federal government employed.
Is President Barack Obama's administration showing hints it is losing confidence in Treasury Secretary Timothy Geithner? CNBC's Larry Kudlow said the signs are suggesting as much.
The host of "The Kudlow Report" said in an appearance with CNBC On-Air Editor Charlie Gasparino on his March 17 broadcast that a statement put out earlier today by the administration, and placed at the top of the Drudge Report, hinted this was the beginning of the end for Geithner.
"You know, statements out of the blue - statements like this are what I call a real bad leading indicator that Geithner's time, days may be numbered," Kudlow said. "It may not happen in the next week, but it may happen."
The statement was made in relation to the Treasury Department's handling of the brouhaha surrounding the $165 million in bonuses paid out to American International Group (AIG) executives, even though they were recipients of bailout money from the Troubled Asset Relief Program (TARP).
The anger and outrage over $165 million in bonuses paid out to American International Group (AIG) executives has many upset and outraged, but it also has some scratching their head wondering where that same emotion is over the entire government spending/bailout culture that has encapsulated Washington, D.C.
Earlier on March 17, CNBC reporter Rick Santelli suggested on CNBC's "Squawk Box" some of this outrage could be purely political. However, liberal talk radio host Ed Schultz said on MSNBC's March 17 "1600 Pennsylvania Avenue," host by David Shuster, this "outrage" is welcomed by President Barack Obama.
"David, I think the Obama administration wants this public outrage," Schultz said. "It's an issue of timing right now. They couldn't have stopped the money to AIG."
Media Research Center President and NewsBusters.org Publisher Brent Bozell today called on all of President Barack Obama’s Federal Communications Commission (FCC) nominees to pledge to preserve the First Amendment freedoms of conservative and Christian talk radio. Bozell asserted that if they do not do so, they should not be confirmed by the Senate.
Denouncing the so-called Fairness Doctrine is not enough. Last Thursday, the Senate passed a rider from Sen. Dick Durbin (D-Ill.) that creates broad new free speech-suppression regulatory powers for the FCC.
The nebulous Durbin Amendment potentially allows for the FCC to prematurely rescind talk radio station licenses and creates many new regulatory avenues by which the FCC can silence talk radio with such vague requirements as "encourag(ing) and promot(ing) diversity" in media ownership and "ensur(ing) that broadcast station licenses are used in the public interest."
Maybe it was just too easy to assume the worst of the news network most others in the press love to hate. Or perhaps it was deliberate.
Whatever the reason, the Agence France-Presse (AFP) wire service's Wednesday story about reaction to Barack Obama's sort-of State of the Union Speech the previous evening spent four of its last five paragraphs pinning a report harshly critical of various claims in the speech on Fox News.
True, Fox News's web site carried the story ("Fact Check: Obama's Words on Home Aid Ring Hollow"). But it was actually written by the Associated Press's Calvin Woodward and Jim Kuhnhenn. (Yes, the AP actually wrote an Obama-critical story. More on that in a bit.)
Here are the four paragraphs in question from the AFP report, which otherwise lavishes praise on Obama's speech and rips into Louisiana Governor Bobby Jindal's GOP response performance:
On Thursday’s CBS Early Show, correspondent Richard Roth reported on a new cancer study that found that obesity can increase the likelihood of getting cancer: "Aside from avoiding smoking, the report says that maintaining a healthy lifestyle is the most important thing you can do for cancer prevention. That means diet, physical activity, and weight management...The report recommends laws and policy changes by government, industry, and schools, from adding bicycle lanes to public roads, to banning junk food from vending machines."
Following Roth’s report, co-host Julie Chen spoke with Dr. Ezekiel Emanuel, an oncologist and brother of White House Chief of Staff Rahm Emanuel, and asked: "In light of this report, how big of a role do you think government should play in making sure Americans lead a healthier lifestyle?" Emanuel suggested: "...do you tax high fructose corn syrup in drinks that we know add calories and promote cancer?...we know that by better policies, we can encourage people to eat less and increase their exercise, which will have an effect, not just on cancer, but also heart disease and diabetes and other health-related activities."
Chen pressed Emanuel to be more definitive about the need for taxes on certain foods: "You say 'maybe do we tax them?' I mean, should we tax these manufacturers that are putting all these things in their products that make it taste good, but it's not good for us?" Emanuel replied: "There are other ways to do it besides taxing. But that is certainly one option that should be considered. In New York, they banned transfatty acids."
A New York Times editorial published this week has been excoriated by Walter Olson, proprietor of the popular "Overlawyered" blog and senior fellow at the Manhattan Institute, and justly so. The subject is the Consumer Product Safety Improvement Act of 2008 (CPSIA), a law that went into effect earlier this month and which even now is causing libraries, thrift shops and used book stores to throw away large volumes of used children's clothes, toys and any children's books published before 1985. Don't take it from me:
If you browse through the racks of children's clothing at area Goodwill stores, you'll notice half the supply is gone - all because of a new law being implemented by the federal government Tuesday morning. -KPTM FOX 42 News, Omaha, 2/9/09 (Hat tip for the link: Ace of Spades.) ...our realistic choices are: 1. Shut down our children's section, or 2. Ban kids 12 and younger from the library.
Before today, CNBC "Mad Money" host Jim Cramer was known for his outlandish statements and crazed antics that would land him in the public spotlight.
However, Cramer got one-upped today by CNBC's Rick Santelli, calling for something like a "Chicago Tea Party" revolt against the redistributionism that is plaguing our federal government. Cramer, in his "Stop Trading" segment on CNBC's "Street Signs" on Feb. 19, remarked it was odd no one was talking about Exxon-Mobil (NYSE:XOM) downgrade, overshadowed by Santelli's revelation.
"I'm sorry not be screaming about class warfare and how you should have your house ripped out from underneath you, but I actually get excited about stocks," Cramer said.
President Barack Obama's recent statement about his opposition to resurrecting the so-called Fairness Doctrine is a good first step, but shouldn't be the only step his administration takes to burying political censorship by the FCC for good, Media Research Center President Brent Bozell and Americans for Tax Reform (ATR) President Grover Norquist argued in a joint statement released today.
[click logo above at right to be directed to the Free Speech Alliance petition]
After all, liberal organizations and individuals like MoveOn.org, ACORN, John Podesta's Center for American Progress, House Energy and Commerce Chair Henry Waxman (D-CA) have expressed their intention to silence talk radio by alternative regulatory means such as nebulous FCC "diversity" in ownership and "localism" requirements.
President Obama must make clear his opposition to those back-door regulations as well, Mr. Bozell declared:
So where did the Cleveland Plain Dealer's Sabrina Eaton go for opinions on what Michelle Malkin earlier today called "the massive mortgage entitlement campaign launched by President Barack Obama"?
Why, they went to "housing experts," of course.
But the people she quoted aren't builders, realtors, mortgage lenders, mortgage brokers, or economists. Nor, based on the area's results, are they experts in helping individuals and families make smart housing decisions, or in helping communities build property values.
No-no-no. The people Eaton consulted as "housing experts" were an "organizing project executive director," the head of the "Columbus-based Coalition on Homelessness and Housing in Ohio," and a county treasurer. Not surprisingly, these alleged "experts" liked Obama's plan, but conditioned their praise with the requisite "there should be more" caveats -- both in terms of money and coercion.
While many Hollywood stars may have raised a champagne flute yesterday to mark President Obama's signing of the stimulus package, actor Kelsey Grammer was not among them. The actor best known for his roles in "Cheers" and "Frasier" told NewsBusters's sister organization CNSNews.com recently that he was a "free enterprise guy" who feared that CEO pay caps included in the corporate bailouts were a "sort of a deal with the devil."
CNSNews.com staffer Nicholas Ballasy caught up with Grammer recently at a ceremony marking the reopening of Ford's Theatre where the actor panned the package as rewarding "evildoers" who have wrecked the economy:
On Friday, radio host Mark Levin gave a shout out to NewsBusters's parent company the Media Research Center and its work via the Free Speech Alliance to fight efforts by liberals to resurrect the so-called Fairness Doctrine.
Transcript follows (h/t Kevin Eder):
MARK LEVIN: Tucson, Arizona, go.
CALLER: Thank you very much for taking my call, Great One. Listen, I just want to have a few words with you here to say I was raised a lib, and I understand how they work, and it's time to get out of our seats, into the streets. And I will be protesting in front of my courthouse every Saturday from 7 to 9 about free speech and about, they do not have the right to take you or anyone else off of the air.
A prominent Democrat made news on MSNBC Feb. 11 with his guarantee of new financial industry regulations "comparable" to FDR's New Deal.
House Financial Services Committee Chairman Rep. Barney Frank, D-Mass., appeared on MSNBC's "Rachel Maddow Show" Feb. 11 and told the MSNBC and Air America host that things should be done to limit what financial services can do, specifically when it comes to compensation.
"There's no question about it for the future," Frank said. "Look, there's a problem with the American system and we as liberals should be honoring this. The principle that you don't go back and do things retroactively is a very important liberal principle."
Frank "guaranteed" there would be new regulations forthcoming.
Imagine for a moment an American newspaper publishing a column with the following opening sentence:
Has Barack Obama’s presidency already failed?
Not in a million years, right?
Well, on Wednesday, one of the most respected international publications, the Financial Times of London, published such an article written by its associate editor and chief economics commentator Martin Wolf.
In it was an astonishingly frank analysis of what the Obama administration has done and not done to solve the current financial crisis (picture courtesy FT):
Don't like the notion of Wall Street employees receiving bonuses? Shoot the messenger - as Adam Green at The Huffington Post has done.
In a Feb. 2 post on The Huffington Post, Green said it was bad form for CNBC "Street Signs" host Erin Burnett to even think about considering the other side of the anti-Wall Street bonus argument, since some Wall Street banks received TARP funds, courtesy of the taxpayer.
"There are, though - well, how should we say this - the taxpayer money is not being used to pay the bonuses," Burnett explained on NBC's Feb. 1 "Meet the Press." "I think people could understand if you work for a company - right? If the three of us worked for a company, your guests, and I lost $10 billion but Steve [Forbes] over there, he made a billion dollars. So overall the company actually loses money, but Steve went and did his very darndest for that company and he made money. So should he be paid for his work? That's essentially what we're talking about here."
CNN's Campbell Brown isn't happy with what Rush Limbaugh said about her colleague Ali Velshi Friday, and has invited the conservative radio host to debate him on her program.
As some background, Velshi was on Brown's "No Bias, No Bull" show Thursday and claimed: "This is not the economy that Ronald Reagan ever saw or anybody with the last name Bush ever saw, or Clinton. We have not seen anything like this in our lifetime."
After the fourth quarter Gross Domestic Product numbers were released Friday showing a much lower-than-expected decline, Limbaugh took issue with what Velshi said the night before:
Mr. Velshi, you are incompetent. You are a disservice to your business, except you fit right in at CNN. Disinformation, character assaults. This economy is nowhere near as bad as it was in 1982.
Brown took issue with this Friday evening (video embedded below the fold with partial transcript, file photo):
Allison cited a "religious belief in affordable housing" that led the government to institute the Community Reinvestment Act of 1977 (CRA) and later, during the Clinton years, to a huge expansion of Fannie and Freddie.
"In my opinion, I'm certain without Freddie Mac and Fannie Mae we could not have had the magnitude of misinvestment - we'd a had misinvestment but nothing like what we've had today," Allison said.