With General Motors in serious trouble, Speaker of the House Nancy Pelosi, D-Calif., and Senate Majority Harry Reid, D-Nev., are making a push for the government to intervene and rescue the auto giant as they did with AIG. However, Francesco Guerrera, U.S. editor for the Financial Times, isn't so sure a GM failure would be as bad as some are letting on.
Guerrera appeared on CNBC's Nov. 10 "Power Lunch" to weigh the pros and cons of the newly revised AIG (NYSE:AIG) rescue package. He was asked if this type of government intervention should be offered for General Motors (NYSE:GM).
"That's what they say," Guerrera said. "I'm not sure I buy that. I think there'll be a lot of job losses if GM fails, but there's nothing systemic in the sense that if AIG goes or if, you know, one of the other banks goes - there'll be a ripple effect throughout not just the U.S. economy, but global financial markets. I don't see how you can make the systemic risk argument for a car company."
The term “Fairness Doctrine” – applied to liberals’ efforts to require talk radio to offer balanced views – harkens to Soviet propaganda, according to Business & Media Institute Vice President Dan Gainor.
“It’s one of the great misnomers of our time. It’s, you know, ‘Fairness Doctrine,’ almost like a Soviet term,” Gainor said on “Fox & Friends Weekend” Nov. 9. “It should be Censorship Doctrine. That’s what they’re trying to do.”
“They’re trying to clamp down on radio because the left and the media control every other facet of where we get our information: entertainment media, print media, you know you’ve got TV, you’ve got NPR, you’ve got Air America,” Gainor said. “The one thing they don’t control, the one way Americans get their information is talk radio.”
Several high-profile Democrats in Congress have expressed interest in revisiting the so-called Fairness Doctrine – although President-elect Obama has said he opposes it.
Mike Barnicle, come on up here and accept this morning's Lanny Davis Award for shameless defense of the indefensible. You've earned it. Not merely did the Morning Joe panelist excuse Barack Obama's nasty jab at Nancy Reagan, he actually claimed that we need more of those kind of "jokes" from our presidents.
Joe Scarborough began the discussion by asserting that whereas mayors, governors and other lesser officials can get away with what Obama said about the former First Lady, it is unbecoming in the mouth of a president. The Morning Joe host also suggested that had George W. Bush made a comparable crack about a beloved Dem First Lady, the New York Times would have taken him harshly to task. Leaping to Obama's defense, the former Boston Globe columnist didn't merely don the wetsuit: Barnicle went full bathysphere.
Message to Scott McClellan: when your guy's gaffe merits a screaming headline at Drudge [see after the jump] about how he's had to apologize for what he said, he's messed up. Big time. But that didn't stop Pres. Bush's former press secretary—turned Soros-paid scrivener—from going on TV and proclaiming that Obama turned in a flawless performance in his debut presser today as president-elect.
McClellan appeared on MSNBC's "1600 Pennsylvania Avenue," David Gregory's post-election vehicle taking the place of "Race for the White House." In an odd bit of balance, McClellan, who endorsed Obama, was on with former Clinton press secretary Joe Lockhart. Mika Brzezinski guest-hosted for Gregory. Lockhart went first, and predictably proclaimed that Obama "made no mistakes" in his press conference today. No prize for candor, but what do you expect? Then it was McClellan's turn, and he went into parrot paradigm [with no offense to the baby red-front macaw I'm bringing home tomorrow].
Many members of the Democratic Party, including Speaker Nancy Pelosi, have stated their desire for a return of the so-called Fairness Doctrine, more rightly called the Censorship Doctrine for it would force conservative talk radio hosts off the air.
But no Congressional action is required to bring back the Fairness Doctrine. All the Obama Administration has to do is make one appointment to the FCC, turning a 3-2 Republican FCC majority into a 3-2 Democratic one, and it can again be reinstated. Republican Robert McDowell's term ends in June 2009.
You might not be thrilled by the election of Barack Obama, but look on the bright side: it's made life a lot easier for Maya Angelou when she hangs out with her European friends. Asked by Andrea Mitchell during MSNBC's 1 PM hour what was going through her mind as the results rolled in, the poet mentioned, among other things:
I realized, almost within the minute, I don't have to apologize for my country when I'm abroad. I can say: "I belong to a great country." And the Europeans who say: aren't you glad to be here in France where we don't have the racism you live under? Aren't you glad you're here in Britain, where we don't have -- I mean, I've been on the defensive so long. This time I can say: "I am an American: look at us, look at what we've just achieved."
At the end of Wednesday’s CBS Early Show, an emotional Harry Smith declared: "I don't know how else to say this -- I grew up in a household that was not racially neutral. I grew up in a household where racial epithets were used commonly and with vigor. To see the difference in this country, in a country that I grew up in, so many people have said this is not something they thought they would ever see in their lifetime, and I wept tears of joy last night." Co-host Julie Chen observed: "You have tears in your eyes right now, Harry." [audio available here]
Prior to that admission, Smith interviewed poet Maya Angelou and asked: "Who were you thinking about last night as you watched the coverage?" Angelou replied: "All of us. All of those who went before, who paid dearly. And all of us today, all of us. I'm so proud, I'm filled -- I can hardly talk without weeping -- I'm so filled with pride for my country. What do you say? We are growing up." Angelou later added: "And he is inclusive, as opposed to exclusive. I know that he knows he is the president of every black person, every white person, he's the president of the bigots and he must remember that." Smith added: "He said in his acceptance speech, ‘for those of you who voted against me, I hear you too.’" Angelou replied: "Yes, exactly. That's what I mean...We will be together. This is what he dreams, he envisions it."
Appearing on MSNBC shortly after 1 p.m. EST with anchor Andrea Mitchell, The Atlantic's Ron Brownstein rebuked House Minority Leader John Boehner (R-Ohio) for drawing a legitimate criticism of President-elect Obama's choice of what he described as the "sharp-elbowed" Rep. Rahm Emanuel (D-Ill.) as his White House chief-of-staff (see video embedded at right, transcript is below page break).
Mitchell dismissed as "warfare" and Brownstein hit as "reflexive partisanship" Boehner's rather mild statement:
This is an ironic choice for a President-elect who has promised to change Washington, make politics more civil, and govern from the center.
NBC political analyst Chuck Todd offered the Quote of the Day in the first few minutes of Today on Thursday, comparing incoming White House chief of staff Rahm Emanuel to the legendary American generals Patton and MacArthur [audio excerpt here]:
President Clinton chose a childhood friend to be his chief-of-staff, Mack McLarty. What did that mean? That chief-of-staff never knew how to tell the President no. Never was a sort of behind-the-scenes guy. In Rahm Emanuel Obama knows he's gettingDouglas MacArthur, or General Patton. A guy who's a field general, who will keep all of the, keep everything running on time, the trains running on time and will go after Congress.
Drastic times call for drastic measures, and CNBC's Jim Cramer has a drastic measure that probably won't sit well with border enforcement proponents.
On Nov. 5 the host of CNBC's "Mad Money" detailed for his audience how he would save the economy serving under Democratic President-elect Barack Obama - under the facetious assumption he could be SEC chairman, Federal Reserve chairman and Treasury secretary.
Cramer's plan involves the government bailing out the big three U.S. automakers - General Motors (NYSE:GM), Chrysler (NYSE:DAI) and Ford (NYSE:F) - with a plan similar to the bailout of American International Group (NYSE:AIG), which was rescued earlier this year. Cramer would also give tax breaks to private enterprises that aid in the country's transition from petroleum-based fuels to natural gas.
The first term of President Barack Obama will bring nationalized health care, attacks on the coal industry, higher government spending and higher taxes, according to Business & Media Institute Vice President Dan Gainor.
On “Fox & Friends” Nov. 6, Gainor highlighted BMI’s most recent Special Report, America 2012, a look at what some of Obama’s major policies proposals will do to the American economy and to Americans’ wallets. The report also examines how the media promoted liberal, big-government proposals throughout the 2008 presidential campaign.
Gainor told viewers the commonly reported number of some 47 million uninsured Americans is “wildly wrong. They [both presidential candidates and the media] were claming 47 million people without insurance, the number probably closer to eight to 15. You don’t have as much of a problem if you’re pushing that.”
Obama will “try to put forth the plan for nationalized health care that the media have been supporting throughout the campaign,” Gainor said. But during the campaign, the media failed to examine the cost of Obama’s proposal, which some estimates put as high as $452 billion, Gainor added.
Just in time for the new James Bond movie, Chris Matthews has earned himself a new moniker: Odd Job. Matthews says he sees his job as a journalist as doing everything he can to make the Obama presidency a success.
Appearing on "Morning Joe" today, Matthews was reluctant to criticize Rahm Emanuel's kabuki dance over accepting Obama's offer to be chief of staff.
The "Hardball" host (and presumptive candidate for U.S. Senate from PA) was equally unwilling to see the Emanuel episode as evidence of a lack of planning and discipline in the nascent Obama administration. Matthews eventually explained why.[H/t multiple NB readers.]
The MSM have already begun circling the wagons around their guy. Like a secular priest, Chris Cuomo this morning absolved Barack Obama of any responsibility for yesterday's stock market nosedive, the largest post-election drop in history.
Cuomo offered his absolution while chatting about the economy with Good Morning America co-host Diane Sawyer today.
DIANE SAWYER: First we've got to start with the market. Market went way down. Why?
CHRIS CUOMO: Well, not because it was Obama that got elected. That had already been figured into the markets. It went down because the news about the economy is not good.
If Keith Olbermann is going to engage in violent fantasies about Sarah Palin, can't he at least come up with some original material? On tonight's Countdown, Olbermann drooled at the prospect of Palin remaining in national politics, saying:
She might stick around to be the slowest-moving target imaginable for comedians and commentators. It would be like shooting moose from a chopper.
Despicable, yes. But also a "borrowing" of Bidenesque proportions. As we noted here, Bill Maher plumbed those noisesome depths weeks ago, imagining Palin being "shot from a plane" like a wolf.
Olbermann got off his loathsome line in a conversation with Chris Kofinis, a former John Edwards aide.
It might be a moot point for this last election, but the media played a role in it. Just who it helped was a point of contention for Democratic National Committee Chairman Howard Dean and Republican National Committee Chairman Mike Duncan.
Both chairs were asked if the news coverage gave President-elect Barack Obama an added advantage in this election at a luncheon at the National Press Club Nov. 5. Dean said he didn't think it did, which was met with grumbles from the audience. He claimed the media had an impact, but it was offset on both sides and he specifically cited the media "obsession" over Obama's association with Rev. Jeremiah Wright.
"Well, I wouldn't have thought so," Dean said. "I wouldn't have thought so. You know, I don't think we need to go over the specific obsessions that went on, but there was a fair amount of obsession with guilt by association tactics, so I'm sure Mike will have a different take on this stuff. But when preachers are put on for hours at a time by the cable networks who have no bearing on what the beliefs of Senator were at all at the time - I don't think he got particularly favorable - I'm not complaining about it because all's fair in politics, but I'd say it was pretty even."
Three of "The View" co-hosts are comedians by profession, but they unintentionally provided some comedy to the November 5 edition of "The View." After two segments of basking over Barack Obama’s victory, and the historic nature of the first African-American president, Sherri Shepherd and Whoopi Goldberg hammered away the need for more affirmative action. [audio excerpt here]
The panel’s two rich black women, whose children do not need a head start over poor white children, expressed disappointment that Nebraska voters approved a ballot initiative banning affirmative action. Sherri Shepherd felt that "there are some people who just need a leg up." Whoopi Goldberg, who just moments before celebrated Obama’s historic victory, opined that "if we lived in the country that we always pray that we’re going to wake up in where everything works and everybody is equal, you wouldn’t need affirmative action."
Earlier in the segment, Joy Behar, giddy over Obama’s victory, proclaimed it as "a triumph over negative campaigning." Did Joy forget the Obama ad mocking McCain’s age and war wounds?
Today's Unintentional Honesty Award goes to Jonathan Capehart. The Washington Post editorialist, discussing Barack Obama's acceptance speech last night, spoke of the president-elect thanking "his reporters," before catching himself and substituting "supporters."
Joe Scarborough, with an assist from executive producer Chris Licht, called Capehart out on his Freudian slip. The WaPo man proceeded to pat himself on the back as one of those rare MSM members who had not been in the tank for Obama. Right.
Who's going to be the leader of the financial world in the role of Treasury Secretary under President Obama? It may be Democratic New Jersey Gov. Jon Corzine, who has pushed for an additional economic stimulus package to the tune of $300 billion to support infrastructure projects.
CNBC's Carl Quintanilla asked Corzine outright on "Squawk Box" if he would accept a job in the Obama administration as Treasury Secretary. "If it's offered, governor, will you say no?" Quintanilla asked.
"Squawk Box" co-host Joe Kernan encouraged Corzine to consider accepting the job if offered, even as the former U.S. senator expressed his contentment as governor. "You could save the world" as Treasury Secretary, Kernan said.
During a special post-election edition of American Morning on early Wednesday morning, CNN correspondent Carol Costello seemed to be confused as to what California’s proposed Proposition 8 would do and hinted that she was opposed to the effort. The initiative would amend the state’s constitution to ban same-sex "marriage." Costello first stumbled as she tried to explain the proposition: "These are the results that we have -- voting yes means you -- you would overturn -- voting yes means there would be a ban on same-sex marriage -- that's 52%. The no votes have 48%." She then continued as to when the results would be certain, and gave a hint as to where she stood on the issue: "We probably won't be able to call that until much later this afternoon, although we do remain hopeful." [audio excerpt here]
Co-anchor John Roberts introduced Costello’s segment, which began 23 minutes into the 4 am Eastern hour of the CNN program, and stated how, besides the presidential race, "from same-sex marriage to abortion, there were some hot-button issues on state ballots across the country, and our Carol Costello has been tracking the results of those." Costello actually focused on the same-sex "marriage" ballot questions during her report and didn’t mention anything of the other issues.
Jaws dropped among NBC viewers just after President Bush's gracious White House speech today in the 10am hour of Today welcoming President-Elect Obama. NBC political analyst Chuck Todd accused Bush of looking like he "wanted to bask in the reflected glory of the history that was made...just like John McCain did last night." Todd also said it was striking since Bush was "the man who's probably more responsible for not just Obama's election but John McCain's defeat than anybody else." Todd also insisted Bush was "responsible" for all the GOP congressional losses. [audio available here]
Is this how NBC wants to greet two Republicans energetically offering gracious concessions? Trashing them for "basking" in Obama's glory? Here's a fuller transcript:
LAUER: Very gracious comments from the president during extremely difficult times for him this morning.
My NewsBusters colleagues, and conservatives across the blogosphere, are sure to be vying to document the most outrageous examples of the MSM's fawning reaction to the Obama victory.
Hopefully I'll have the honor of at least a brief clubhouse lead with my entry, the words of CBS Early Show co-anchor Julie Chen during this morning's opening segment.
JULIE CHEN: Yeah, it was so moving, um, last night. You couldn't help but feel so emotional, and I agree with you [Maggie Rodriguez], I think John McCain did a really classy job in his speech [he did, but MSM loves Republicans best as losers] in acknowledging Barack's [Julie on first-name basis] big win. And what was most inspiring to me was when Barack Obama was addressing that huge crowd, was watching such a diverse group of faces, all with so much hope in their eyes. That made me feel really good.
At 11:49 PM EST, live from Morehouse College in Atlanta, ABC News reporter Steve Osunsami choked up and came near tears as he recalled how “my father used to tell us that there's no way this country would elect a black President,” but “this evening, the country has proved my old man wrong -- and we're the better for it.”
As he stood with cheering students, Osunsami told anchor Charlie Gibson:
Charlie, I've watched a number of students here call their parents, call their fathers, their brothers and sisters. I received a text from a friend of mine who said black Americans everywhere should thank the country.
From a personal note, as a kid, I grew up in a neighborhood that was mostly black and my father used to tell us that there's no way this country would elect a black President. Well, this evening, the country has proved my old man wrong -- and we're the better for it.
In an interview from Chicago's Grant Park taped shortly beforehand and aired on ABC just past 10:30 PM EST/9:30 PM local time, an excited Oprah Winfrey told Good Morning America's Robin Roberts:
I haven't seen this sense of unity since 9/11, really, really, and 9/11 was this tragic experience that brought us all together and now we're all brought together in the name of hope. Not since 9/11 have I experienced anything even kind of close to this.
Of course, the 47 percent who voted for McCain may not share Winfrey's unity.
She had prefaced that contention: “It's my town. My town's been vibrating all day. I mean, from the moment I left the building this morning -- the doorman, everybody vibrates, just great. It's one of the greatest experiences of, certainly my lifetime and it's been wonderful, I think, for everybody in the country who has called somebody or somebody has called them. Everybody was e-mailing everybody standing in line.”
As election results rolled in, the hosts on CNBC's election coverage speculated what a win by Democratic presidential nominee Sen. Barack Obama might mean.
CNBC "Kudlow & Company" host Larry Kudlow warned Obama shouldn't misinterpret the election results to unleash an attack on vital parts of the economy.
"My point is Obama can not go far to the left if he is winning states like Ohio and New Mexico and let's say Virginia and the others," Kudlow said. "In other words, these red states that are hotly contested are sending a message to Sen. Obama he must in fact govern as the moderate."
It's taken them awhile, but good to see that MSNBC has now seamlessly integrated its own promotional advertising with that of the Obama campaign.
An MSNBC promo that just aired, touting the network's election coverage, concludes: "Watch MSNBC, and experience the power of change." And as you'll see from the screencap, who is at the center of MSNBC's coverage but Keith Olbermann. Oh, and prior to its parting shot, the promo's soundtrack is the voice of JFK, in his famous "ask not" line from the 1961 inaugural address.
In the 8:30AM half hour of Tuesday’s CBS Early Show co-host Maggie Rodriguez led live coverage of Barack Obama voting in Chicago and asked Face the Nation host Bob Schieffer: "Bob, how must he be feeling right now?" A choked up Schieffer replied: "Well, I mean, this is a -- this is a remarkable moment in American history. Stop and think about this, 150 years ago there were 31 million people who lived in this country, 4 million of those people were slaves, 4 million people. And, today, here you have an African-American who may be elected president of this country. This is not -- people keep talking about the American people may be ready to turn a page, but it's not just a political page, this is a page of American history." Rodriguez agreed: "Absolutely."
Co-host Harry Smith joined the coverage and actually wondered if Obama was voting for himself: "I'm wondering, I would love to ask him afterwards whether or not he voted for himself...Because having voted in school elections and stuff like that, we were taught as kids sometimes you vote for the other guy because that's how -- that's how -- it's an honorable thing to say that 'I honor your presence here. This was a battle well fought.' And I would be very interested to know whether or not he voted for himself." A realistic Schieffer replied: "I'm betting he did." Smith responded: "Yeah, I'm betting he did. I'm just bringing up a question."
An Obama victory could boost conservative talk show hosts according to CNBC's "Squawk Box" this election day. The show was more skeptical over the future of left-wing talk. Always with the rhetorical questions, Joe Kernen got things started:
Who is going to win in terms of the cable wars? ... Are we going to become totally nonpartisan now? Do you think that we will be able to bury all of our divisions and there won't be any incendiary cable shows anymore? Who wins if Obama wins? What happens to Olbermann? What's Olbermann going to do, or Maddow?
Co-host Carl Quintanilla suggested "television feeds on conflict" and co-host Rebecca Quick followed up by adding that syndicated radio host Rush Limbaugh "has done better" when there are Democrats in power.
Kernen said that Limbaugh and Fox News Channel and syndicated radio host Sean Hannity both signed new deals and an Obama win would be "great for them."
If the Republicans had a few more spokesmen like Haley Barbour, the political landscape might look a lot different. The Mississippi governor's down-home good humor and razor-sharp wit are a formidable combination. Barbour's killer combo of skills was on display on this evening's Hardball. When Chris Matthews challenged his criticism of Obama's tax credit plan, Barbour good-naturedly backed him down with an impressive disquisition on New Deal history. When he was through, Matthews had to admit that Haley was right.
I'd encourage people to view the video, not only for the entertainment value, but as a case study of how to defeat a member of the liberal media.