On Friday’s Political Capital show, Bloomberg’s Margaret Carlson lavished praise on President Obama has having "negotiating skills" like the recently deceased diplomat Richard Holbrooke - known for facilitating a ceasefire in Bosnia in the mid-1990s - as host Al Hunt asked Carlson and the National Review’s Kate O’Beirne to describe what Christmas gifts they would figuratively give to various public figures. Carlson: "I’m going to give him an inscribed copy of the late, great Richard Holbrooke’s memoir, in honor of Obama’s negotiating skills in this lame duck session. All he had to do was give up tax cuts - for which the Republican Party stands - to the wealthy who don’t need it in exchange for everything else he got."
She went on to trash Tea Party Republicans recently elected to Congress as "blowing off steam." Carlson: "I’m afraid that they might succumb to earmarks and lobbyists. They give every sign of that. So I’m going to give them a tea kettle because all they’ve done so far is blow off steam."
Bloomberg News has taken an unorthodox step in the world of wire services, and created an opinion section that it says "will embrace a diversity and variety of opinion."
But early signs suggest a liberal tilt to"Bloomberg View", as it's called. It will be edited by David Shipley, former deputy editor of the New York Times opinion page, and James Rubin, who was an Assistant Secretary of State under President Clinton.
Furthermore, Bloomberg employees are quite open about the fact that the views of the company's president, New York City mayor Michael Bloomberg, will be reflected prominently in its content.
Shortly after the Labor Department announced a very disappointing jump in the unemployment rate to 9.8 percent, Google News featured as its top story an Associated Press article published Thursday predicting "the tight job market may be easing at last."
Here's a screen cap of Google News from about an hour ago:
They're back, they have their media water-carriers in place, and the Obama administration is smack dab in the middle of it.
The United Nations is pushing for countries in the developed world to keep their "promise" to, in the worlds of Charles J. Hanley at the Associated Press, "raise up to $100 billion a year in new money for poorer countries to cope with climate change and reduce their greenhouse gas emissions."
It's as if ClimateGate never happened (link is to NB's 120-plus posts on the topic). It's as if the IPCC and others associated with the scandal and the evidence-impaired claims of global warming -- er, climate change -- uh, make that climate disruption -- still have their reputations totally intact.
In a zinger that roused the indignation of MSNBC's "Morning Joe," Bloomberg columnist Margaret Carlson cast Christine O'Donnell as Sarah Palin's protege – but "with not a fully-functioning human brain." But in 1992, Carlson gushed over the primary victories of current Sens. Barbara Boxer and Diane Feinstein. Does she hold a double-standard?
Co-host Mika Brzezinski was taken aback when the panel had to discuss Carlson's piece for The Daily Beast, "Watch Your Back, Sarah." She silently mouthed the word "bitchy" to Carlson to describe the article, adding that it was "searing."
Carlson's piece focuses on the emergence of the Republican Delaware Senate nominee as the next Sarah Palin protege, predicting a political catfight of sorts between the two female GOP stars. Carlson labeled O'Donnell an "obvious knockoff" of Palin, "hawking her wares on the shores of the Delaware."
Appearing on "Morning Joe" Wednesday, Carlson sneered that O'Donnell lacks a "fully-functioning human brain."
Of course, there was a time when she smiled upon the emergence of female Senate candidates.
Today, eight city council members were arrested in Bell, California for what Los Angeles County District Attorney labeled "corruption on steroids." Thus far, every major news outlet that has reported on the story has omitted the fact that all eight individuals arrested are Democrats.
These glaring omissions come only weeks after NewsBusters reported that of the 351 stories on the then-brewing controversy, 350 had omitted party affiliations, and one had mentioned they were Democrats only in apologizing for not doing so sooner.
What if reporters hunting and pecking for happy economic news are playing up incomplete government reports? Take this AP story by Jeannine Aversa on hopes rising over jobless claims:
The number of people signing up for unemployment benefits dropped to the lowest level in two months, an encouraging sign that companies aren't resorting to deeper layoffs even as the economy has lost momentum.
The Labor Department reported Thursday that new claims for unemployment aid plunged last week by a seasonally adjusted 27,000 to 451,000. Economists had predicted a much smaller decline of just 2,000.
But wait, we have an asterisk alert: did the Labor Department really get data from all 50 states? Bloomberg News explained, ahem, that nine states did not report actual numbers:
In recent days, New York Mayor Mike Bloomberg has become a beloved press figure as a result of his unshaking support for the Ground Zero mosque.
Isn't it fascinating how in this environment where rich people are being demonized at every turn all you need to do is a support a popular liberal cause and your financial sins are instantly forgiven?
With this in mind, the good folks at Big Journalism have uncovered some rather startling financial connections between this media mogul and the Arab world that haven't raised any eyebrows from journalists that love to follow the money when there's a conservative at the other end of the smoking wallet.
Consider the uproar last week surrounding News Corporation's contribution to the Republican Governors Association.
As you read Mondo Frazier's marvelous piece "Follow the Money: Could Mayor Bloomberg's Media Business Interests in the Middle East Have Anything to Do with His Support of the Ground Zero Mosque?" ask yourself why the seemingly always curious press have ignored any examination of this billionaire's motives:
File the news in this report filed late yesterday afternoon by Michael Calderone and John Cook at Yahoo's Upshot Blog under "D" for Double Standards:
White House reporters mum on Obama lunch, even as papers back transparency
White House reporters are keeping quiet about an off-the-record lunch today with President Obama — even those at news organizations who've advocated in the past for the White House to release the names of visitors.
But the identities of the lunch's attendees won't remain secret forever: Their names will eventually appear on the White House's periodically updated public database of visitor logs.
... The Obama White House began posting the logs in order to settle a lawsuit, begun under the Bush administration, from Citizens for Responsibility and Ethics in Washington (CREW), which sought the Secret Service's White House visitor logs under the Freedom of Information Act.
... And guess who filed briefs supporting that argument? Virtually every newspaper that covers the White House.
Wednesday evening, Brent Baker at NewsBusters noted that two of the Big Three television networks failed to tag Dan Rostenkowsi, the former long-time congressman from Chicago who was ousted from his seat in 1994 over corruption charges and ended doing prison time, as a Democrat. Rostenkowski (RIP), who was 82, died yesterday.
At the five major wire services whose reports I reviewed -- The Associated Press, Reuters, UPI, AFP, and the business-oriented Bloomberg News -- Rosty's Democratic affiliation made at least one appearance. But the prominence and directness of those appearances varied widely.
Not surprisingly, the Associated Press and writer Don Babwin did the worst job of identifying Rosty's party, waiting until the eleventh paragraph to directly tag him (the eighth paragraph contains a generic reference to the "Chicago Democratic machine"), and poured it on the thickest when referring to the supposedly beloved bygone days of bipartisanship:
CNN's Rick Sanchez again hinted that Fox News wasn't a legitimate news organization during his Rick's List program on Monday. When colleague Ed Henry mentioned that several news outlets were petitioning for a front-row seat at White House press briefings, Sanchez replied, "I understand the Associated Press. I even understand Bloomberg, but don't have you to be a news organization to get that seat?" [audio clips available here]
The anchor discussed the fight over the front-row seat with Henry and correspondent Brooke Baldwin during a segment 42 minutes into the 4 pm Eastern hour. Baldwin brought on the CNN White House correspondent to comment, as he's on the board of the White House Correspondents Association, which voted on the matter. Henry explained that "Fox, Bloomberg, and National Public Radio were vying for it- all made strong cases. In the end, Fox [was] unanimously moved up to the front row, but did not get the seat Helen Thomas was in. We voted unanimously to move the Associated Press over to where Helen Thomas was."
Sanchez responded to the White House correspondent's explanation with his Fox-bashing remark, to which Henry replied, "Oh! Are you saying Fox is not a news organization?" The anchor retorted, "Yeah. I'm just wondering."
Many readers may already be familiar with recent exposure of the treasury plunderers disguised as public officials serving up hefty salaries to themselves while allegedly serving their constituents in the LA suburb of Bell, California.
Here's some of the latest from the Associated Press, carried at the Los Angeles Times, which broke the original story, for those who need a quick catch-up. Almost as night follows day, the news doesn't answer a question many readers here and elsewhere will naturally have:
Several hundred angry residents from a modest blue-collar Los Angeles suburb marched Sunday to call for the resignation of the mayor and some City Council members in a protest sparked by the sky-high salaries of three recently departed administrators.
The residents of the city of Bell marched to Oscar's Korner Market and Carniceria, owned by Mayor Oscar Hernandez, then to his home, demanding that he reduce his own six-figure compensation or quit.
They then did the same with some members of the City Council, with many marchers wearing T-shirts that read "My city is more corrupt than your city."
On Thursday, a new unemployment bill died in Congress as Senator Ben Nelson (D-Neb.) joined Republicans on the grounds that government spending can't go on forever.
Instead of reporting both sides, the media couldn't seem to hide their anger.
The bill was called a "jobless aid" package that "governors were counting on" to help "the poor" across the nation. Almost all news reports began from the Democrat perspective and waited several paragraphs before weakly defending Republicans.
Worse yet, a consensus with far more damaging impact began to grow: the loss will cause the nation's economy to fall into a double dip recession, and it will be entirely the Republicans' fault.
Never mind last year's stimulus bill worth $700 billion, or the bank bailout of 2008, both of which have failed to live up to promises of recovery. No, our economy is suffering because fiscal conservatives won't spend even more.
It doesn't seem like this exercise should be that tough.
The government issues Daily Treasury Statements telling everybody what went in and out on a given business day. At the end of the month, the last Daily Treasury Statement has a record (admittedly jumbled and larded with lots of bureaucratic excess) of all receipts and disbursements for the month.
The folks at the Congressional Budget Office look over the final Daily Treasury Statement and estimate what the totals for receipts and disbursements (or "outlays") will be. The difference, obviously, is their estimate of the month's reported deficit. The only remaining items should be error corrections (if any), or accounting entries resulting from the government's ill-advised choice to account for "investments" in banks, car companies, and other entities on a "net present value" basis.
On the eighth business day of the following month, the Treasury Department releases its Monthly Treasury Statement.
On Friday, the CBO estimated that the April's deficit would be $85 billion. The press (as covered at NewsBusters; at BizzyBlog) virtually ignored its report. That's bad enough, but when reporters went out to economists for deficit estimates, their predictions were significantly lower. For starters, here's what the Associated Press carried this morning:
Former Time White House correspondent (and Carter administration appointee) Margaret Carlson really wants RNC chairman Michael Steele fired. In her Bloomberg News column on Wednesday, she badly exaggerated: "In the world of fundraising scandals, this one makes former Vice President Al Gore’s visit to a Buddhist temple look as quaint as tea at Buckingham Palace."
Earth to Margaret: the wayward RNC strip-club reimbursement is certainly embarrassing, but it isn't illegal, like the temple fundraiser. As Michelle Malkin explained:
In the spring of 2000, [Gore aide Maria] Hsia was convicted by a federal jury in Washington, D.C., of five felony counts related to more than $100,000 in illegal contributions to Democratic candidates. The stash included $65,000 in straw donations, which Hsia had funneled through clueless, non-English-speaking monks and nuns the day after Vice President Al Gore's 1996 visit to the Hsi Lai Buddhist Temple in Southern California.
Scher railed against the Bush tax cuts, and asserted that a 35-45 percent inheritance penalty (the estate tax or death tax) isn't punitive enough to stem the deficit crisis.
"But those massive tax breaks to the superwealthy don't quite have the same juice they used to. Especially, the estate tax - levied on the inheritances of the wealthiest heirs in America," Scher wrote. "This year, because of the Bush tax plan from his first term to gradually phase out the estate tax altogether, the estate tax is literally wiped off the books."
Bloomberg News managed to pen a full obituary of the late Congressman Jack Murtha today, calling him a "Supporter of Troops" in the headline, without once mentioning his incendiary--and unfounded--claims that a group of Marines had murdered 24 Iraqis in cold blood (h/t Washington Examiner's Mark Hemingway).
Murtha, himself a former Marine, said in 2005 after two dozen Iraqis were killed in the city of Haditha, "there was no firefight, there was no IED that killed these innocent people. Our troops overreacted because of the pressure on them, and they killed innocent civilians in cold blood."
Eight Marines were charged in the killings. Charges against six of them have been dropped, one has been found not-guilty, and the case against the remaining Marine is pending. Murtha was unrepentant about the slanderous accusations he leveled against these Marines. He even compared the Haditha incident to the My Lai massacre during the Vietnam War (see video below the fold).
Four recent stories out of Venezuela each give readers brief glimpses at how Hugo Chavez's brand of authoritarian socialism is critically wounding what could be a resource-rich, financially prosperous country:
January 9, AP -- "Venezuela faces risk of devastating power collapse."
Collectively, however, they depict a country in the early stages of a headlong free-fall into Cuban-style financial ruin. No U.S. establishment media enterprise appears interested in making the accelerating decays in financial well-being and personal freedom in that country understandable to the average person.
AP's headline at the first item noted seems designed to avoid attention. This isn't a mere "weakening" of the currency; instead, it's a bizarre bi-level devaluation of up to 50%:
At this point, there should be little doubt that there is a concerted attempt underway to use the war in Afghanistan as a justification for punitively taxing high earners.
Last weekend (noted at NewsBusters; at BizzyBlog), the New York Times discovered that wars cost money. It cited Wisconsin Democratic Congressman David Obey's concern that funding the Afghanistan effort at the level requested months ago by General Stanley A. McChrystal would "devour virtually any other priorities that the president or anyone in Congress had."
Thursday, as reported by AFP (noted last night at NewsBusters; at BizzyBlog), House Democratic heavy-hitters Barney Frank, John Murtha, and (no surprise) Obey announced the "Share The Sacrifice Act of 2010," an income-tax surcharge that overwhelmingly targets high-income earners.
Now Michigan Democratic Senator Carl Levin has weighed in. Bloomberg dutifully carried his water, as seen in this graphic containing the first four paragraphs of the report:
The Hollywood Reporter relayed that CNN founder Ted Turner granted an interview to Bloomberg TV Friday and unsurprisingly, he still aches to run CNN, where he wants to see "less fluffy news and more international news," especially about China. "Less talk, more news," he said. But he also still wants to run Cartoon Network, where he could bombard the children with his old eco-propaganda cartoon, Captain Planet:
As for Cartoon Network, Turner tells anchor Betty Liu, "If I had control of it, I'd put 'Captain Planet' on at a top time period so that kids would see the environmental superhero instead of just Superman."
Turner also believes that newspapers are an outdated pile of solid waste:
"You're chopping all these trees down and making paper out of them and trying to deal with all the waste paper. It's the biggest solid waste problem that we have."
Not everyone on the left is in denial of the town hall protests and propagating the notion that any opposition to ObamaCare is manufactured "Astroturf" from the right.
Former Democratic Senate Majority Leader Tom Daschle, now a Bloomberg TV contributor, said that the issue of public sentiment isn't settled. Some prognosticators have concluded that everyone wants President Barack Obama's brand of health care reform.
"I think it's still a toss-up ball quite frankly," Daschle said on Bloomberg TV Aug. 11. "I think everybody is looking to see who gets to be on the offensive and there is a critical effort on both sides to do that. Whoever is usually on the offensive as you go into the legislative fight is the winner. And so, that's really the key - who can be on the offensive as we go through the next critical weeks."
Maybe reporters Brian Faler or Nicholas Johnston at Bloomberg asked Barack Obama some really challenging questions when they had a chance to interview the President at the White House. Maybe they even did some basic fact-checking. If so, there's precious little evidence of either in their June 16 report.
They allowed the president to blame most of the current year's deficit on George W. Bush. They let him speak of "robust" growth when the best guesstimates they quoted for the second half of this calendar year and all of next year are anemic -- at least as the press benchmarked growth during the Bush 43 years.
The Bloomberg pair also ignored the alarming deterioration in federal receipts from economic activity that has continued into June, one of the four biggest collections months of the year.
Here are key paragraphs from Faler and Johnston's failed filing (bolds are mine):
You can't make this stuff up. The titled quote comes from a Bloomberg story today about new GM Chairman Ed Whitacre. You also can't make up most of the media's calm acceptance of yet another person heavily involved with running General Motors, aka Government Motors, who knows next to nothing about cars except as a consumer who drives them.
At least it's refreshing that this guy has experience running a business, which is more than you can say about the other two architects of the company as it currently subsists.
On May 31, the New York Times put out a fawning portrayal of the a Mr. Brian Deese, the guy who was the only full-timer on President-elect and then President Obama's car team from Election Night until mid-February.
Fasten your seat belts, this guy's lack of any kind of pedigree will have you death-gripping the steering wheel, as will the smug dismissiveness of a business system that has been the most successful in human history:
Earlier today at my blog, I noted in a post updating the sad situations at bankrupt Chrysler and headling-for-bankruptcy General Motors, that GM is, according to a Wednesday Reuters report, offering secured bondholders a much better deal than the 29 cents on the dollar Chrysler's secured creditors have been offered. Chrysler's "non-TARP secured lenders," after what they allege with much evidential support was a campaign of threats and intimidation by President Obama and the White House, abandoned their efforts to have their first-lien rights recognized in bankruptcy court.
But Indiana pension funds holding some of that secured debt representing teachers, police, and other workers have taken legal action objecting to the terms of the Chrysler bankruptcy that don’t give first-lien lenders their proper and legal due.
It thus appears, despite a chest-thumping May 2 assertion in the New York Times that the White House's Chrysler hardball might have taught GM lenders a "lesson," that Obama and his car guys don't have the stomach for riding roughshod over the rights of GM's secured bondholders and ending up with the possibility of another bankruptcy moving into a regular federal district court (the Indiana situation could be the first).
Now what? Well, if you're Team Obama, you instead try to put the screws to GM's unsecured bondholders -- to the benefit of the United Auto Workers' Voluntary Employee Benefits Association (VEBA) trust.
Yesterday, in the process of passing on news that bloggers such as Ed Morrissey at Hot Air and outfits like the Heritage Foundation were onto earlier, Bloomberg's Kevin Hassett delivered a stinging indictment of the establishment media for being asleep at the switch (the sole exception appears to be a video report at PBS). But while he does a good job identifying the problem and indicting journalists for ignoring the news, his prescription for a solution is badly wanting.
The news? The days of Social Security surpluses are over, six to possibly eight years earlier than was thought to be the case just a year ago.
Here are excerpts from Hassett's commentary ("Recession Bites Into Social Security’s Surplus"). His first word reveals what he thinks of the nation's political elites, and of the media that are supposed to be watching them:
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.