Bloomberg

By Matthew Balan | September 30, 2013 | 6:25 PM EDT

CBS This Morning did its best over two days to put the most positive spin on the rollout of the ObamaCare insurance exchanges. On Saturday, the newscast turned to Bloomberg's Peter Gosselin, who likened the exchanges to "shopping for anything online on Amazon". However, the program failed to point out that Gosselin once worked in the Obama administration, and advised HHS Secretary Kathleen Sebelius on health policy.

Two days later, the morning show turned to CBS News business analyst Jill Schlesinger, who followed Gosselin's lead in likening the exchanges to a popular website: "This is really like going to shop for a flight on Travelocity." Schlesinger also noted that ObamaCare "has to get young, healthy people in it, or else the math does not work". However, she insisted just moments later that the marketplaces will "work out all right", despite the initial glitches. [MP3 audio available here; video below the jump]

By Tom Blumer | September 28, 2013 | 10:06 AM EDT

Joshua Freed's Friday afternoon report on the week's results in the stock market at the Associated Press spent nine paragraphs telling readers how the current budget battle in Washington and possible government shutdown are causing stocks to retreat.

Though he obviously didn't admit it, Freed's narrative fell apart in later paragraphs as he discussed "mixed economic signals" which aren't mixed at all. They range from "pretty bad" to "really bad." Excerpts, mostly about the "mixed signals," follow the jump (bolds are mine throughout this post):

By Tom Blumer | September 16, 2013 | 1:59 PM EDT

If President Barack Obama is losing Al Hunt, there is definitely trouble in Lefty-land.

But let's not go too far. In the midst of leveling criticisms at Obama as "bordering on incompetence," the former host of CNN's Capital Gang and executive editor at Bloomberg News, who is now a Bloomberg View columnist and host of a Bloomberg TV's Political Capital Sunday news show, cited three examples of supposedly indisputable George W. Bush administration incompetence, none of which fits the description.

By Katie Yoder | September 9, 2013 | 3:35 PM EDT

Liberal comedian Bill Maher recently revealed how he worked his way through college: pot dealing – according Bloomberg Businessweek. 

In the Sept. 9 issue, Maher admitted, “Selling pot allowed me to get through college and make enough money to start off in comedy.” Maher attended Cornell University to earn an English degree in 1978. The “Business News, Stock Market, & Financial Advice” magazine dedicated a bio page to Maher, now a comedian, producer and host of HBO’s “Real Time with Bill Maher.” 

By Tom Blumer | August 28, 2013 | 9:17 PM EDT

There are two key words missing from the report Bloomberg's Kasia Klimasinska & Shobhana Chandra published Tuesday morning — a writeup that is so incredibly sunny and over-the-top that is probably would have embarrassed the Old Soviet Union's Pravda in its heyday.

One is "income." The reason is obvious. Real median household income is still way below where it was when the recession ended four long years ago. The other absent word is "deficit." This enables Bloomberg's pathetic pair to glide though a discussion of the national debt-ceiling situation and make Republicans look like the heavies. The final problem is that they act as if we're in the fifth year of unbroken expansion, when we're not. Excerpts follow the jump.

By Tim Graham | August 26, 2013 | 9:41 PM EDT

Bloomberg News betrayed their sense that democracy is best served by complete deference to President Obama. Their headline was “House Republicans Set to Defy Obama Are Mostly White Men.”

Reporter Greg Giroux (who is also white, if bean-counting is important) began this way: “The core group of Republicans who are pushing the House toward a showdown with the White House over the debt ceiling and government spending is made up of 41 members -- all white men except for two.” They were studying the conservative “Caucus of No.”

By Tom Blumer | August 26, 2013 | 4:55 PM EDT

Anyone remember all the huffing and puffing from the establishment press about how third-quarter economic growth was going to be great — so please stop worrying about how weak the past three quarters (annualized rates of 0.1%, 1.1%, and 1.7%, respectively) have been?

Oops. On Friday, the Census Bureau reported that new-home sales dropped over 20% in July to an annual rate of 394,000 from June's original reading of 497,000, which was itself revised down to 455,000. Today, the bureau revealed that durable goods orders fell sharply in July, bringing about yet another appearance at Bloomberg News of its favorite word during the past five years about the economy, and yet another instance of the stock market's apparent pleasure with bad news for the rest of us:

By Noel Sheppard | August 24, 2013 | 11:51 AM EDT

Stop the presses! Stop the presses!

A liberal media member actually said something negative about Al Sharpton.

Appearing on PBS’s Inside Washington, Bloomberg News’s Margaret Carlson said Friday, “We’ve gone from Martin Luther King to the Reverend Al Sharpton, and as a leader, as he is trying to be this weekend, it’s very dispiriting” (video follows with commentary):

By Tom Blumer | August 19, 2013 | 10:07 AM EDT

A November 15, 2010 blog post by Michael S. Derby at the Wall Street Journal ("San Francisco Fed Official Says QE2 Is Working") told us that "The Federal Reserve‘s recently announced plan to buy $600 billion in Treasury securities to improve economic growth is having a positive effect on growth." The Fed official involved also predicted "the U.S. gross domestic product to come in at 2.5% this year (2010), and at 3.5% next year and 4.5% the year after that." 

Uh, not exactly. Actual GDP results: 2.5% in 2010 (that was a gimme), followed by 1.8% and 2.8% in 2011 and 2012, respectively. Almost three years letter, the San Fran Fed's acknowledged result of that effort at "quantitative easing" — it "added about 0.13 percentage point to real GDP growth in late 2010" — is starkly different, and is only "positive" if you think a football team managing one field goal in four quarters is "positive." Of course, though it should be, the news is getting very little coverage.

By Tom Blumer | August 12, 2013 | 11:04 PM EDT

On Friday, Eric Holder's Department of Justice gave the memory-hole treatment to wildly inflated statistics released last October about the number of cases and the amount of money involved in DOJ's mortgage fraud enforcement efforts.

Bloomberg News reporters who had discovered that the original numbers were suspect had been getting stonewalled for months in their efforts to get answers to their queries, and finally got them through the document-dump route. The differences are stark.

By Andrew Lautz | August 9, 2013 | 3:18 PM EDT

Joe Scarborough offered one of the most interesting ObamaCare metaphors to date on Friday’s Morning Joe, claiming that President Obama’s signature health care reform is “like a zombie” that is “neither alive or completely dead.” The MSNBC host added that the law “just sort of slowly marches on,” amidst a barrage of criticism from both the right and the left.

Scarborough’s panel kicked off the segment by discussing Josh Green’s latest column in Bloomberg Businessweek, in which Green argued that the Obama administration is losing the battle over the ironically-titled Affordable Care Act on Twitter. MSNBC host Thomas Roberts turned the discussion to the fast-approaching open enrollment period for ObamaCare, which begins on October 1:

By Andrew Lautz | August 2, 2013 | 5:15 PM EDT

MSNBC contributors Jonathan Alter and Joy Reid sound much like a good metronome: their commentary never changes, marching on at an endless, fixed pace. Alter and Reid have made a career at the Lean Forward network out of comparing Republicans to slave owners, terrorists, and drunks.

Their latest assault on the GOP came on Friday’s Now, with Reid serving as guest host in place of Alex Wagner. Discussing the latest attempt by Senate Republicans to defund ObamaCare, Alter blasted the “suicide caucus” GOP, claiming “smarter conservatives understand” that shutting down the government over ObamaCare “is suicidal.”