Banking/Finance

It is a curious phenomenon - the way the media have handled the economy since President Barack Obama has taken office. Generally the coverage has been on the optimistic side over the last 18 months. But could this blind optimism come back to haunt people that trade on economic metrics? According to CNBC "Mad Money" host Jim Cramer, it will and in a big way on Aug. 27, when the new gross…

Here's how the Associated Press's Martin Crutsinger and Daniel Wagner reported the housing portion of their Tuesday report on the day's economic news ("Factories aid bumpy recovery, housing still weak"): Single-family home construction, which represented nearly 80 percent of the market, fell 4.2 percent. And requests for building permits, considered a good sign of future activity, slid 3.1…

Paul Krugman and Larry Kudlow - not exactly two guys you would associate with one another. However, they are two media figures Washington Post columnist Frank Ahrens thinks should be candidates for the same job. In his Aug. 15 column, Ahrens wrote about some of the people that should replace outgoing chair of the White House Council of Economic Advisers Christina Romer. He named several…

Ed Schultz on Thursday blamed Republicans for all the unemployed people living in America today.As he began the most recent installment of the "Ed Show" on MSNBC, the host said, "The Republican Party has been on a crusade against the middle class and the poor for the last 30 years. We're now seeing the wreckage of that race to the bottom line culture."He disgracefully continued, "Today a…

During Morning Joe on Thursday, MSNBC's Chuck Todd appeared baffled by a discussion of negative feelings directed towards Barack Obama from Wall Street. The confused journalist wondered, "Look, at the end of the day, he has not done that much when it comes to business stuff."  Mad Money host Jim Cramer relayed to Todd that Wall Street is upset because, "Most of the people on Wall Street are…

Earlier today, NB's Lachlan Markey covered Bill O'Reilly's interview with the Fox Business Channel's Charles Gasparino.In that interview, Gasparino confirmed what the New York Post reported in April of last year, namely that "GE Execs Encouraged CNBC Staff to Go Easy on Obama."The suits at GE, including Chairman Jeff Inmelt, had a clear motivation for encouraging their reporters to lighten up,…

There are quite a few shaky assertions in Alan Zibel's Associated Press report yesterday about Freddie Mac's latest quarterly loss ($6 billion), its latest bailout installment request to the U.S. Treasury ($1.8 billion), and the cumulative taxpayer bailout amounts that have been paid out to Freddie Mac and big sister Fannie Mae thus far ($148.2 billion) -- too many to cover in a blog post. So I'…

When the credits are the most intriguing part of the movie, there's a problem. In the new film "The Other Guys," starring Mark Wahlberg and Will Ferrell, two mismatched cops try to make a name for themselves by investigating a potential Ponzi scheme run by a corrupt investor. The villain is a pseudo-Bernie Madoff but rather than vilifying a single fraud, director Adam McKay ("Anchorman," "Step…

Bad economic news just keeps piling up. Today, the news about jobless claims from the AP:Initial requests for jobless benefits rose last week to their highest level since April, a sign that hiring remains weak and some companies are still cutting workers.The Labor Department said Thursday that new claims for unemployment insurance rose by 19,000 to a seasonally adjusted 479,000. Analysts had…

It seems that not even the truth can possibly overturn the narrative that President Obama and the Democrats in Congress have brought transparency to Washington.Last Wednesday I wrote about how the Dodd-Frank financial regulatory bill Obama signed into law last month contains a provision exempting the Securities and Exchange Commission from Freedom of Information Act requests. Such an exemption…

What a fine group of happy warriors! Right Online 2010 turned out over 1,000 like-minded activists from over 30 states. These passionate folks walked the over-100 degree streets of Las Vegas to educate voters that November Is Coming.Should the Democrats be worried? No. They should be resigned. The real worry-warts should be Republicans consistently intent on selling out their principles. Be…

PBS recently responded to accusations of a liberal slant to its July 23 Need to Know program which featured satirist Andy Borowitz making fun of Sarah Palin’s intelligence as the show's executive director Shelley Lewis claimed that, because the previous week's episode had featured a segment that was critical of President Obama, the program in reality has been balanced in going after political…

Gold has been a highly valued commodity going at least as far back as the ancient Egyptian culture in 2600 BC. But now, with economic instability and uncertainty over the health of major global currencies, the demand for gold has risen as a store of value and a hedge against inflation. Over the past 12 months, the price of gold has gone up dramatically - up 25 percent from July 2009 (from $929…

If only women ruled the world . . . Striking a blow for her sex, Mika Brzezinski today claimed that the Wall Street meltdown "simply would not have happened" if more women had been in charge. The Morning Joe co-host was reacting to news that the Dems managed to slip into the recently enacted financial regulation bill a provision--authored by Rep. Maxine Waters--that would create "at least 20 new…