BusinessWeek Pronounces Auto Industry 'Needs' Bailout, Says Republican
Well, I guess that settles it. We don't need any political discussion or economist's studies. The auto industry officially needs a bailout. It's just a fact. After all, MSNBC and BusinessWeek have just said it. The auto industry "needs" one or it cannot survive. Oh, yeah, and MSNBC is also informing the world that Republicans have told auto workers to "drop dead." I think this is what the Old…
FBN Anchor: Treasury’s Misuse of TARP ‘Outrageous’; a ‘Mess
So what exactly is the government doing with your money? Fox Business Network's Alexis Glick would like to know. Treasury Secretary Henry Paulson announced Nov. 12 he would be redirecting the $700 billion bailout to focus on propping up financial institutions instead of buying troubled mortgage assets, which was the original intent of the rescue plan. Glick, the host of FBN's "Money for…
Obama-backing Financial Times Reporter Starting to Show Buyer's Remors
A Financial Times reporter who endorsed Obama but worried about his economic policies has taken a fresh look at the President-elect's post-election economic policy ideas, and doesn't like some of the big ticket items he sees. [See related blog entry by Jeff Poor here] In his November 10 op-ed "The choices that confront America," British journalist Clive Crook reserved some of his harshest…
Burnett: McCain Win Might Give Stocks 'Big Pop,' Market 'Priced In Oba
Wall Street is definitely watching all those polls the networks keep touting. CNBC's Erin Burnett told MSNBC's "Morning Joe" that Wall Street was predicting that Sen. Barack Obama will win the presidency, but an upset from Sen. John McCain might boost it: This market has priced in Obama, has not priced in McCain. Some people say that if McCain were to have an upset and win the market…
Weekend Captionfest
Joe Biden, then Senate Judiciary Committee Chairman, points at Clarence Thomas during hearings on his nomination to the Supreme Court, October 12, 1991. [Photo Greg Gibson/AP]
Boston Paper: John McCain Will be a Dictator
Someone at The Phoenix, a small Boston weekly, is off his medication. It's hard to believe sanity is a familiar state, at least, when reviewing the silliness passed off as serious political analysis, anyway. For the lead editorial in The Phoenix this week is a fantastic display of hyperbole filled with "truther" propensities. The editorial, you see, is all worried that John McCain will make…
Sen. Bingaman (D-N.M.): Fairness Doctrine Would Help Radio Reach 'High
In a stunning on-air admission of his desire to re-regulate radio and infringe on free speech, Obama supporter and New Mexico Sen. Jeff Bingaman (D) argued recently that the so-called Fairness Doctrine -- which would mandate equal time for opposing viewpoints on radio programming -- would elevate talk radio to a "higher calling." Bingaman lamented that radio without the "Fairness Doctrine" has…
Barney Frank: 'The Fundamentals Are Better Than the Psychology
Shades of McCain from an unlikely corner . . . When at the beginning of the current financial mess John McCain declared that "the fundamentals of the economy are strong," he was roundly lambasted by the MSM, while the Obama campaign called his statement "an enormous mistake."So, should we expect the liberal media and the Obama campaign to go after Barney Frank . . . now that he has said something…
Media Near-Secret: Deficit Increase Almost Entirely Due to Spending
Story after story on the full-year results for the federal budget refers to the size of the full-year deficit for the fiscal year that just ended on September 30 ($455 billion), and how it compares to last year's deficit ($162 billion). Almost none of them talk about why the deficit ballooned. I wonder why? Could it be because the Democrat-controlled Congress of Nancy Pelosi and Harry Reid…
Mitchell Measures the Drapes: 'I Think You're Going to See a Bipartisa
You might know Barack Obama as the most liberal member of the Senate, a hyper-partisan who toed the Harry Reid line an amazing 97% of the time. But Andrea Mitchell sees in Obama a bipartisan president in the making. Appearing on Morning Joe today, Mitchell came close to speaking of an Obama presidency as a given, just managing to curb her enthusiasm. And wait till you see the people she cited…
WaPo Writer: Hoping For an End to American-Style Capitalism
Was the current economic situation caused by too little government intervention in the financial markets—or too much? I'd say the latter. Washington used Fannie/Freddie as a political piggy bank, causing it dole out loans to people who had no business receiving them. And because Freddie and Fannie's obligations enjoyed the implicit guarantee of the federal government, they were able to obtain…
Cramer on Colbert: Dems to Blame for Fan, Fred Debacles
It's sad when just about the only place to get the truth about what happened to precipitate the current mortgage-lending mess is the Colbert Report. Jim Cramer of CNBC's "Mad Money" appeared on the Comedy Central show on Monday. The takeaway soundbites: Cramer said "I'd love to, but I can't" pin the blame for the debacles at Fannie Mae and Freddie Mac on President Bush. He noted that "the…
