Media Ignore CNBC Anchor Advising Hedge Funds How to Lie and Cheat to
March 22nd, 2007 1:47 PM
Something rather extraordinary occurred last December which had extremely ominous implications for stock investors around the world, but got totally ignored by the media. In fact, if not for a recent video posting at YouTube, and a March 20 article in the New York Post, these spectacular revelations would still be well under the radar.On December 22, CNBC’s James Cramer did a web interview for…
Wal-Mart's Bank Plan Withdrawal: AP Shows Strange Sympathy for the Big
March 20th, 2007 7:35 AM
Friday, Wal-Mart dropped its bid to establish a federally insured bank. It's ridiculous that they had so much trouble getting approved, because as the linked article noted:
Industrial banks have been proliferating in recent years — Target Corp., UnitedHealth Group Inc. and Harley-Davidson Inc. are among the nearly 60 that now exist. Critics say their growth dangerously blurs the line between…
Deficit Headline Writing, a Quick MSM How-to
March 12th, 2007 4:26 PM
Here are the facts: The federal deficit is "down sharply"... WASHINGTON - The deficit for the first five months of the budget year is down sharply from a year ago as the growth in government tax collections continues to outpace growth in spending....and "down sharply" means more than 25 percent over last year. The Treasury Department reported that the deficit from October through February…
4th Quarter 2006 Home-Price Report: The Sky Is Not Falling
March 12th, 2007 9:48 AM
The Office For Housing Enterprise Oversight released its Fourth Quarter 2006 House Price Index (HPI) report (PDF) on March 1.
Given the recent gloomy reporting about the industry, you may not know that housing prices nationwide actually went up a bit more in the fourth quarter (1.12%) than they did in the third (1.07%). Though there are certainly problematic metro areas, it would appear that the…
If the Business Reporters at AP Know What's 'Real,' They Don't Show It
March 9th, 2007 7:09 PM
The 2006 Real (after Inflation) Increase in Household Net Worth Was Greater Than 2005's -- But You Wouldn't Know That from Reading the Associated Press's Accounts. And this is not the first time AP has ignored what's "real."
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Here is how the Federal Reserve's report on household net worth was covered by AP reporter Jeannine Aversa (bold is mine):
Net Worth of U.S…
Horror Story-time: Networks Bash Credit Cards
March 8th, 2007 5:32 PM
NBC had some "horror stories" to share with its audience on March 7, according to "Nightly News" anchor Campbell Brown. Brown introduced the report by Lisa Myers that told the story of Wesley Wannemacher, a man who's $3,200 credit card debt ballooned to $10,700 after interest and penalties.Wannemacher's plight also featured prominently in similar segments on ABC "World News with Charles Gibson"…
