Economy

Christy Romero, the acting Special Inspector General for the TARP bank bailout program, told the House Financial Services Committee on Tuesday that the Dodd-Frank financial regulatory law may not end the “too big to fail” policy and the moral hazard surrounding it. Testifying before the House Financial Services Committee’s Financial Institutions and Consumer Credit Subcommittee, Romero said…

As has been the case virtually from the beginning, the Associated Press's Scott Bauer has been clearly unhappy with 2011 Wisconsin Act 10, commonly known even to the Wisconsin Supreme Court as the "Budget Repair Bill." Today, the court ruled that the law as enacted by the Badger State's legislature and signed by Governor Scott Walker can go into effect on July 1. Looking back at what's…

CBS hounded four Republicans from the left during a town hall on the economy which aired on Tuesday's Early Show. Bob Schieffer, Erica Hill, and Rebecca Jarvis pressed Reps. Paul Ryan and Allen West, Senator Tom Coburn, and South Carolina Governor Nikki Haley to consider tax hikes to deal with the deficit. Schieffer also specifically accused the three members of Congress of "doing nothing" to…

If I'd heard the following words, instead of reading them, I might have assumed they were being delivered by a President Obama impressionist on "Saturday Night Live." But the words were from Obama himself in his latest weekly radio address. "I wish I could tell you there was a quick fix to our economic problems," he said. "But the truth is we didn't get into this mess overnight, and we won't…

In an interview with President Obama on Tuesday's NBC Today, co-host Ann Curry fretted over Republican calls for spending cuts before raising the nation's debt limit: "Do you think they're bluffing, given how financially disastrous it would be for the United States not to have the debt ceiling raised? And are you willing to make deep spending cuts?" Obama laughably claimed: "Well, keep in…

UPDATE AT END OF POST: Headline changed to "Goofy." The next time one of your liberal friends tells you there isn't any bias in the media, show him or her the following headline published Tuesday by CNN Money's senior writer Jeanne Sahadi. "Wingnut Debt Ceiling Demands" was actually placed directly above a picture of Republican presidential candidate Newt Gingrich, former Alaska governor…

To say that the statistics concerning new business formation during the past few years haven't been very good would be a major understatement. USA Today's Scott Patterson deserves some credit for even looking at the topic. It is tailor-made for neglect by the rest of the establishment press. When government policies lean towards lower taxation and regulation, policies left-leaning journalists…

Imagine a Republican president giving a speech on tough economic times in which he claimed that the plight of Americans who are hurting is what is on his mind every day as he walks to the Oval Office. Imagine that same Republican president, in that same speech, bragging that he has "a better plane" and "a bigger entourage" than when he was a candidate.  Now imagine the howls from the MSM about…

While grilling former Pennsylvania Senator and presidential hopeful Rick Santorum on NBC's Sunday Meet the Press, host David Gregory was skeptical of the idea that Americans should be able to choose their own health care plan: "They're better off with the freedom that they've got in the vagaries of the private insurance market?" Gregory was responding to Santorum's criticism of ObamaCare: "[…

Yesterday (at NewsBusters; at BizzyBlog), I noted a reluctance on the part of Associated Press reporters to describe the farm involved in "the world's deadliest known outbreak of E. coli" as "organic." The wire service issued two additional reports this morning, both of which failed to use the "O-word." The case for the use of the word in these reports is as strong, if not stronger, than it…

On Wednesday evening in Europe (12:31 p.m. Eastern Time), in what it was already describing as "the world's deadliest known outbreak of E. coli," the Associated Press reported that "No cause for the outbreak has yet been found," while farmers on the continent were petitioning the EU for hundreds of million of dollars in compensation. By midday European time (6:27 a.m. ET) on Friday, June 10,…

ABC's "This Week" actually used the occasion of Congressman Anthony Weiner's (D-N.Y.) sex scandal to discuss whether this was "a good moment for women." During a lengthy segment, host Christiane Amanpour along with her exclusively white female guests proceeded to bash members of the opposite sex with ABC's Claire Shipman actually saying, "A group of all white men are not going to reach the…

CNN's Eliot Spitzer arrogantly lectured about the benefits of Keynesian economics Sunday while accusing fellow panelists on "Fareed Zakaria GPS" of not knowing what they were talking about because they weren't business owners. This led British historian Andrew Roberts to point out that President Obama's administration are mostly academics, and Ann Coulter to ask Spitzer, "What business have…

MSNBC's Andrea Mitchell scolded Republican presidential candidate Tim Pawlenty today over the former Minnesota governor's proposed plan to reduce taxes and cut spending, decrying the conservative measures as "counterintuitive." "What makes you think that a plan to actually increase the deficit by cutting taxes is the right way to go right now?" groused NBC's chief foreign affairs…