Economy

Apparently, “CBS Evening News” thinks it shouldn’t be your responsibility to remember to balance your checkbook. Anthony Mason’s July 11 report bashed banks for *GASP* profiting from overdraft fees.“Banks are cashing in on overdrafts, raking in more than $17 billion in fees last year, according to the Center for Responsible Lending” said Mason.The segment, called "Hidden Charges," did not include…

Here’s something you don’t see every day: a member of the mainstream media blaming high gas prices on somebody other than President Bush or Vice President Cheney.Better strap yourselves in, for the culprit is truly shocking.Not only did Wednesday’s Washington Post deflect responsibility for the rise in prices paid at the pump away from the White House, much of the blame was actually shifted to –…

Today's release of the Institute for Supply Management's Non-Manufacturing Activity Report, which measures business conditions in the 86% of the economy other than manufacturing, came in with a reading of 60.7, after recording a 59.7 last month. As has been customary, the report whipped the pants off of "expectations." This Thomson Financial article at Forbes predicted a decline to 58.1 instead…

Those following the histrionics of "The Food Stamp Challenge" (previous NewsBusters posts here, here, and here; previous BizzyBlog posts here, here, and here) know that: Most of those engaging in it claim that the average Food Stamp recipient "only has $21 per person per week to buy food." The fact is that the program's monthly benefits (often referred to "Allotments"; scroll to the bottom…

Billion-dollar returns just aren’t good enough for NBC. On June 26, the “Nightly News” attacked wealthy hedge fund managers for making high-risk investments and for trying to do business with the “vulnerable” upper-middle class.Reporter Carl Quintanilla mentioned rich investors who want to become “hedge fund rich,” but then focused his segment negatively on such investment firms.“[T]he people who…

“American Morning” provided another forecast of mostly cloudy skies for the housing market on June 26.“I got to tell you John [Roberts, “American Morning” co-host], this is not good news for people who are out there trying to sell their house and this of course is supposed to be the biggest time of year for sales,” said Gerri Willis to begin her report.Willis, the personal finance correspondent…

Complete with a background track fit for an indie horror flick, NBC’s “Today” bashed student loan companies and colleges with a segment on “student loan schemes.”On June 21, consumer correspondent Janice Lieberman ignored personal responsibility as she bashed colleges and lenders without giving them a chance to rebut.“You would assume that the college you choose would be on your side and find the…