Henry Paulson

Will Media Examine Candidates' Proposals Before Financial Crisis?
By Noel Sheppard | October 12, 2008 | 1:13 PM EDT

As a result of the stock market collapse in the last four weeks, the economy has become the most important issue on the minds of voters.

Yet, as Barack Obama has clearly benefitted in the polls during this period, the media have refused to examine the records of the two presidential candidates as it pertains to policy proposals they have recommended or supported that might have averted this crisis.

Is this because John McCain has clearly been more out in front of this issue than Obama, and if the press actually did their job and told the American people this it might negatively impact the junior senator from Illinois's campaign?

Consider what McCain said during Tuesday's debate after being asked a question by Tom Brokaw concerning the condition of the economy (photo courtesy ABCNews.com):

GREEN ALERT: MSM Ignores Hidden Carbon Tax Provisions in Paulson’s Bailout 2.0
By Matthew Vadum | October 2, 2008 | 12:25 PM EDT

UPDATED BELOW THE FOLDWhy is the mainstream media --which keeps lecturing Americans that Treasury Secretary Henry Paulson's Bailout Package Version 2.0 must be passed immediately-- ignoring what might be the most earth-shattering provisions in Paulson's package? The media needs to start asking hard questions. Here is where they need to start.

Media Report Pelosi's Pre-Bailout Vote Attack on Bush and GOP
By Noel Sheppard | September 29, 2008 | 8:50 PM EDT

Before Monday's House vote on the largest government bailout in American history, Speaker Nancy Pelosi (D-Cali.), in potentially one of the most poorly-timed displays of partisanship in recent memory, blamed President Bush and Republicans for the turmoil in the financial services industry (video embedded right).

Such ill-advised finger pointing seemed to surprise press members of all shapes and sizes as some prominent print media outlets including the Washington Post and the New York Times quickly published articles quoting Republicans who blamed the bill's failure on Pelosi's hyper-partisan speech.

On the television side, CNN aired Republican reaction to the Speaker's comments moments after the votes were counted (partial transcript and embedded video follow):

AP Publishes McCain-Bashing Bailout Piece Olbermann Should Love
By Noel Sheppard | September 26, 2008 | 10:42 AM EDT

The Associated Press's Charles Babington, the journalist Keith Olbermann attacked in August for having the nerve to criticize Barack Obama's speech at the Democratic National Convention, wrote a McCain-bashing article Thursday evening that should get a standing ovation from the "Countdown" host.

The piece entitled "Dems, Some in GOP Question McCain's Intervention" probably evoked so much applause from the Obama campaign and Congressional Democrats Thursday night that they must have wondered if their operatives wrote it.

In fact, when you look at the first eight paragraphs of this article, you'll also likely think someone in either the Obama campaign or Howard Dean's office was responsible (emphasis added, photo courtesy AP):

Schieffer: Paulson Pleaded for McCain to Save Bailout
By Mark Finkelstein | September 25, 2008 | 7:53 AM EDT

So much for a "stunt."

John McCain got involved in the bailout negotiations after Treasury Secretary Henry Paulson told Sen. Lindsey Graham yesterday that the bailout plan would fail unless McCain came in and brought balky Republicans aboard.  That's what Bob Schieffer reported on this morning's Early Show.  Schieffer's account stands in stark contrast with the allegation by Dems like Barney Frank and their MSM cohorts that McCain's moves of yesterday were nothing more than a political "stunt."

Here was Schieffer speaking with the Early Show's Maggie Rodriguez at 7:05 AM EDT today:

BOB SCHIEFFER: I am told, Maggie, that the way McCain got involved in this in the first place, the Treasury Secretary was briefing Republicans in the House yesterday, the Republican conference, asked how many were ready to support the bailout plan. Only four of them held up their hands.  Paulson then called, according to my sources, Senator Lindsey Graham, who is very close to John McCain, and told him: you've got to get the people in the McCain campaign, you've got to convince John McCain to give these Republicans some political cover. If you don't do that, this whole bailout plan is going to fail. So that's how, McCain, apparently, became involved.

Continued Schieffer . . . 

ABC's Golodryga: Another Great Depression Looming?
By Scott Whitlock | March 18, 2008 | 3:16 PM EDT

"Good Morning America" economic reporter Bianna Golodryga narrated a segment on Tuesday's show that featured grainy black and white footage from the 1930s and two references to the Great Depression. The ABC journalist also featured clips from Democratic presidential contenders Barack Obama and Hillary Clinton to amplify the warnings of impending economic doom.

While discussing the collapse of investment bank Bear Stearns, grainy footage of panicked '30s bankers appeared onscreen as Golodryga intoned, "The problems are so massive that the Fed is taking measures not seen since the Great Depression..." And while President Bush was briefly highlighted, assuring Americans that the United States will rebound, Paul McCulley, the managing director of the investment company Pimco, continued the comparison to the worst economic crisis the United States ever faced. Referencing impending action by the Federal Reserve, he asserted, "...You could have the Fed with great intentions but still a downward spiral in property prices that would give you a modern day depression." For comparison's sake, during the Great Depression, almost 25 percent of Americans were unemployed.

ABC's Stephanopoulos: 'Economy Almost Certainly in Recession'
By Noel Sheppard | March 16, 2008 | 2:26 PM EDT

For more than a week, NewsBusters has been pointing out that media seem to be adopting the 1992 Bill Clinton playbook of presenting the economy as being in much worse shape than it really is.

On Sunday, former Clinton administration adviser George Stephanopoulos took this doom and gloom posture by repeatedly depicting the nation as already being in a recession.

In fact, he began the most recent installment of ABC's "This Week":

Oops -- Marcy Kaptur Mistakes Bernanke for Paulson
By Tom Blumer | January 21, 2008 | 5:01 PM EST

This is Marcy Kaptur (D-Ohio):

MarcyKaptur0108

Last Thursday, she was at a House committee meeting (HT QandO) and started asking this guy some questions:

Ben_Bernanke0108

The guy is Fed Chairman Ben Bernanke.

The problem is, this is what she asked:

The Ohio Democrat, at a House of Representatives Budget Committee hearing, said she wanted to know what Wall Street firms were responsible for the securitization of subprime mortgages.

She then asked: "Seeing as how you were the former CEO of Goldman Sachs ..." But the only person testifying at the hearing interrupted.

"No, no, no, you're confusing me with the Treasury Secretary," said Federal Reserve Chairman Ben Bernanke.

Lauer Worries About Tax Rebates for the 'Rich'
By Justin McCarthy | January 18, 2008 | 11:18 AM EST

Class warfare seeped into the January 18 edition of "Today." Upon interviewing Treasury Secretary Henry Paulson on the Bush administration’s proposed economic stimulus package and rebates, Matt Lauer pitched the liberal "tax cuts for the rich" line inquiring "you're not going to give rebates to the rich here, correct?"Secretary Paulson declined to answer the question saying he does not "want to g