Bailouts

We are now six months into the failed Auto Bailout Era. Looking at the industry's four biggest companies, it has become clear that Ford is on the rise, General Motors continues to slip badly, Chrysler is fading into minor-player status, and Toyota's ongoing struggles continue. In May, after April's sales results came out, two Associated Press writers noted Ford's ascendancy and uniquely hinted at…

Fox News's Stuart Varney had a heated debate Wednesday with Air America's Mike Papantonio about the state of the economy and the effectiveness of the $787 billion stimulus package.Subbing for Neil Cavuto on Wednesday's "Your World," Varney tried repeatedly to get his liberal guest to admit that porkulus hasn't worked and that the economy is getting worse.Papantonio wasn't having any of that…

New York Times reporter Edmund Andrews is again writing about housing -- and about a proposed government agency that could have helped him during his own housing crisis -- on the front page of Wednesday's Business section, "Banks Balk At Agency Meant to Aid Consumers."Andrews courted controversy in May upon the release of his book "Busted: Life Inside the Great Mortgage Meltdown," about his own…

As we near the end of June, which is supposed to be one of the four biggest months for federal tax collections (January, April, and September are the others), it is clear that the serious receipts shortfalls are not only continuing, but have caused the March 20 projections of the administration and the Congressional Budget Office (CBO) to be outdated.Media coverage of the ongoing receipts dive…

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…

The Associated Press posted an "analysis" piece by writer Tom Raum on June 15 to address the GOP strategy against Obamacare and other administration policies but the APs characterization of the GOPs efforts almost seem meant to belittle and de-legitimize that opposition as opposed to describing it. The entire GOP argument against Obama is boiled down to a use of "buzz words" as far as AP's Raum…

First the federal government's auto bailout bullies came for Chrysler's secured, first-lien creditors, and defeated them.Then they came for General Motors' unsecured bondholders. The feds appear to be in the drivers' seat in shafting them disproportionately to force a better deal for the United Auto Workers' healthcare trust.Now, in a matter that at first only seemed to interest the Wall Street…

Here we go again. Controversial filmmaker Michael Moore is going offer his solution to societal ills through one of his documentaries. If Moore's past movies are any indication of the coverage he will get, it is sure to be a media hit. Already, Huffington Post blogger and MSNBC daytime anchor Carlos Watson is praising praised Moore's early promotion of the flick. "Michael Moore, the filmmaker,…

A fabulous 1934 Chicago Tribune cartoon that has recently been making the rounds in the blogosphere as an example of history sadly repeating itself was marvelously rerun at the paper's website on June 10.In it, members of Franklin Delano Roosevelt's administration are seen shoveling money out of a wagon with a billboard on the side declaring, "Depleting the resources of the soundest government in…

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…

If you stand in the way of President Barack Obama's agenda, beware because there may be a litany of consequences that could result from your act - regardless if the obstacle is legitimate or not. On June 8, Supreme Court Justice Ruth Bader Ginsburg issued a stay to review an appeal by a trio of Indiana pension and construction funds that own a part of Chrysler's secured debt. They claimed the…

Actor Jon Voight, who recently spoke critically of President Obama at a Republican fundraiser, appeared on Tuesday's The O'Reilly Factor to reiterate his problems with Obama. After recounting that America was "warned" by Hillary Clinton and Joe Biden during the Democratic primary season that Obama "had no experience" and was a "novice," the conservative actor reminded FNC viewers of the unheeded…

Many have claimed the federal government was playing fast and loose with the rules surrounding its takeover of General Motors and the circumstances surrounding the selection of which dealerships would remain open and those that wouldn't. Fox News' Gretchen Carlson came forward with evidence of this through a personal account of dealership closings. Carlson, a co-host on the Fox News Channel's…