Banking/Finance

I hate to say I told you so, but what the heck. We did. The Business & Media Institute warned that Fannie Mae was a looming taxpayer-backed disaster - in 2005. Only the network news shows didn't like to tell you about it. An op-ed I wrote appeared in The New York Post under the headline: "The $30B Scandal That TV Forgot." I think $30 billion is small potatoes now. $100 billion is the number…

See Bonus Coverage at foot: Barnicle accuses Jesse Jackson of "corporate blackmail."Two veteran members of the Senate, two entirely different treatments from Andrea Mitchell.  Reverence for Ted Kennedy; scorn for Strom Thurmond. Guest hosting in Mika Brzezinski's spot on Morning Joe today, Mitchell, emotion in her voice, hailed Kennedy as "valiant" and a "hero."  As for Thurmond, Mitchell mocked…

Forget the basics of supply and demand, just find someone to blame. As Congress takes new aim at speculators for the high price of gasoline, some media reports seem to be following suit. But as The Biz Flog explains this week, there is considerable debate over whether speculators should be blamed for the high cost of oil. June 23, the same day Democrats on the House Energy and Commerce…

The network news outlets - ABC, CBS and NBC - have missed a great opportunity to cover actual political news in the last week by failing to report on the loan scandal surrounding two Democratic senators, Business & Media Institute Managing Editor Amy Menefee told "Fox & Friends Weekend" June 21."This story has everything," Menefee said. "It has a former presidential candidate, Chris Dodd…

As we've noted at NewsBusters, there's been scant coverage of a new scandal involving Sens. Chris Dodd (Conn.) and Kent Conrad (N.D.). Both senators chair committees with oversight of the financial industry and Dodd is behind a bailout package for mortgage lender Countrywide. Both senators got "VIP" treatment from Countrywide Financial for refinancing agreements on their respective mortgages.So…

Townhall.com's Amanda Carpenter rips into the Washington Post today over its editorial about Democratic Sens. Kent Conrad (N.D.) and Chris Dodd (Conn.) and their cozy arrangement for mortgage refinances with Countrywide. For some background, check out my June 13 blog on ABCNews.com's treatment of the story.I'll let Carpenter take it from here (emphasis mine):

Washington Post: GOP tool? Might sound a tad far-fetched to you. But you're not Howard Dean. Appearing on today's Morning Joe, DNC Chairman Dean claimed a Washington Post article about Jim Johnson, whom Barack Obama has chosen to head up the vetting of potential VP picks, was "planted" by the McCain campaign. Johnson's appointment has become an embarrassment to Obama because the former CEO of…

I always find it amazing when writers in the mainstream press seem to have so little knowledge of America and its history. Of course, I suppose that being blissfully ignorant of US history does help paper over their betrayal, substituting the feeling that they can maintain allegiance to American "ideals" as they attempt to advocate for the sort of socialist/communist vision that they want America…

"What is mysterious, what is mysterious about the phrase 'variable rate'?"—George Will, This Week, March 30, 2008Mystery is in the eyes of the borrower–and the MSM. The term "variable rate" in a mortgage might seem straightforward enough to George Will and our erudite NB readers, but to a college-educated homeowner–and ABC's Kate Snow–it's apparently a real brain twister.Snow hosted a segment on…

In a news brief on Thursday’s CBS "Early Show," co-host Russ Mitchell reported: "Homeowners struggling to pay the mortgage may soon be getting help from Congress -- Congress, rather, but efforts may fall short." Correspondent Wyatt Andrews went to explain why the measures may not help enough people: "Senate leadership believes it finally has a tentative deal in place to help some, but certainly…