In their coverage Monday night of the debt crisis in Greece, ABC and NBC refused to label the current Greek government as socialist, far-left, or even left-wing with ABC neglecting to even explain why Greece has found itself in such a precarious position as they stand to possibly default on their billions of dollars in debt and/or leave the Eurozone. In contrast to both networks, the CBS Evening News offered both the most comprehensive coverage and the only label for the Greek government.
In case you missed it, the City of Baltimore and the State of Maryland have requested disaster relief assistance from the Federal Emergency Management Agency (FEMA) to recover costs incurred during that city's April riots. You read that right.
Yvonne Wenger at the Baltimore Sun predictably buried the lede in her May 26 story's third paragraph, giving uninitiated readers the impression that applying for FEMA assistance after a riot is something that is routinely done. (Perhaps, given the quality of today's journalists, she really believes that herself.) More critically, she forgot to remind readers that the city arguably deserves no help at all from any outside source, because the vast majority of the rioting's damage would have been prevented if Mayor Stephanie Rawlings-Blake had done her job.
Given how much wailing and gnashing of teeth there was in the press when the old Hostess liquidated in 2012, a mid-April story at Forbes on the company's has gotten surprisingly little attention. Well, maybe it's not that much of a surprise, for reasons which will be indentified here.
Readers may recall that the final straw in that drama occurred late that year when the the AFL-CIO-affiliated Bakery, Confectionery, Tobacco Workers union called a strike after rejecting management clearly communicated final offer. The company, already in bankruptcy, was through negotiating, and chose to liquidate. The press moaned about how all of this meant the end of an era. Steven Bertoni's Forbes writeup shows how wrong they were, and what a business can accomplish when it's not saddled with legacy costs and constraints.
On Tuesday, Associated Press reporter Martin Crutsinger celebrated the federal government's large April budget surplus, caused by "a flood of tax payments (which) pushed government receipts to an all-time high." He didn't mention that the tax payments were higher largely because of tax increases passed in 2013. It certainly didn't occur because of an improving economy — because it's not meaningfully improving.
Crutsinger also noted that the April 2015 result of $156.7 billion "was the largest surplus since April 2008," without telling us that the previous surplus was achieved despite (better argument: "because of") the Bush 43 tax cuts.
Even Charles Babington at the Associated Press, for once not the completely beholden Administration's Press, seemed to be having a hard time buying what Democrats at a meeting in Philadelphia were selling. Unfortunately, he decided to let Joe Biden's direct contradiction of his party's congressional delegation's sunnyside-up stance on the economy go unreported.
In a video carried at the Weekly Standard, Biden said, "To state the obvious, the past six years have been really, really hard for this country, And they've been really tough for our party. Just ask [former DCCC chair] Steve [Israel]. They've been really tough for our party. And together we made some really, really tough decisions -- decisions that weren't at all popular, hard to explain." Despite how "really, really hard" it has all been, the party is attempting an "in your face" at those who want to claim that it has been that way because of the Obama administration's economic policies. Excerpts from Babington's AP report follow the jump (bolds and numbered tags are mine):
In a report on the upcoming Greek elections, an unbylined Friday afternoon Associated Press report dusted off words seldom seen in their dispatches, using the term "radical left" twice and the word "radical" separately once for good measure.
The almost never seen terms — virtually invisible in decades of descriptions of longtime radical leftists like Fidel Castro, the late Hugo Chavez or lefty legends like the late Che Guevera — appeared in describing the party and policies of Greece's Syriza party and its leader, Alexis Tsipras. Syriza and Tsipras appear to have winning momentum going into Sunday's balloting. Excerpts follow the jump (bolds are mine throughout this post):
The limited government, anti-bailout Tea Party movement party turned five years old on Feb. 27. They marked the occasion with an event in Washington, D.C. including speakers Rep. Michele Bachmann, R-Minn. Sen. Rand Paul, R- Ky., and Sen.Ted Cruz, R-Texas.
But after the five years of the media painting tea partiers as “wingnuts” and “racist” time and again, ABC, CBS and NBC went virtually silent on the matter that day.
CNBC’s Rick Santelli recalled the five-year anniversary of the stimulus, housing bailout and blowing “a gasket” during “Squawk on the Street” today.
“On Feb. 19 I blew a gasket. But basically, what was born at that point was the voice of dissension. How do we know that? Many of course still remember the IRS issues. President said maybe there wasn’t a smidgen of, of, of negativity there or news there or anything inappropriate there,” Santelli explained. “But it seems like, if you look back, it was February of 2009 where all of that started if you look at some of the IRS records. But dissension was born!” (Video Below)
Five years ago, CNBC’s Rick Santelli reacted to the possibility of a mortgage bailout with frustration on live television. Quickly, his speech on the trading floor became known as the “rant heard round the world.”
Santelli, an on-air editor who reports live from the Chicago Board of Trade, is frequently interviewed during “Squawk Box” and “Squawk on the Street.” It was during one of those morning discussions on Feb. 19, 2009, that Santelli let loose on a potential bailout of homeowners arguing that “the government is promoting bad behavior” and proposing that capitalists gather in Chicago for a “Tea Party.”
In yet another negative milestone for the bailouts that supposedly saved the U.S. auto industry — already a hard-to-handle claim given that Chrysler, one of the two beneficiaries, is now 100% owned by an Italian company — Volkswagen has surpassed General Motors as the world's number two automaker behind Toyota.
The reporting on this development has been quite sparse. It's not news at the Associated Press's national site, even though AP mentions VW in a report on Super Bowl ad and social media strategies. At USA Today, James R. Healey's could easily have inserted the news into his story today on the 65th anniversary of the VW Beetle's first arrival here, and didn't. What follows is an excerpt from Expatica, one of the few publications to note the shakeup in the auto industry hierarchy:
On CNN’s State of the Union Sunday, host Candy Crowley asked a question of Gov. Scott Walker (R-Wisc.) that should offend people on both sides of the aisle.
“If I am an unemployed American…or if I am a minimum wage worker…why would I become a Republican?” (video follows with transcript and commentary):
Former Federal Reserve Chairman Alan Greenspan made some rather ominous economic observations Sunday.
Appearing on CNN’s Fareed Zakaria GPS, Greenspan said, “[T]he level of uncertainty about the very long-term future is far greater than at any time I particularly remember.” He blamed it on “government intervention [that] has been so horrendous that businesses cannot basically decide what to do about the future” (video follows with transcript and commentary):