Banking/Finance

There's an N-Word you apparently write at your own risk if you're in the establishment media. It's "nationalization." The Associated Press's Stephen Bernard, with the help of old reliables Jeannine Aversa and Martin Crutsinger, blew through almost 800 words (link is dynamic; 12:49 p.m. version is saved here for future reference, is now authored by Crutsinger, and is longer than what I originally…

On Tuesday’s CBS Early Show, co-host Maggie Rodriguez spoke with FDIC Chairwoman Shelia Bair and asked: "I can't think of a better morning to have you here, because all the talk is about the bank and if you look at the cover of The Washington Post, there it is, the n-word, 'nationalization,' which you have said you would be surprised if we get to that point. But isn't it maybe going to be a…

After eight years of blaming everything that came out of our nation's capitol on George W. Bush, the New York Times is suddenly separating the White House from the government.Such was immediately apparent in the Times front page story Tuesday addressing the mounting pressure being exerted on Washington to come up with more bailout funds for companies and industries in financial trouble.The…

As rumors of nationalization swirl about Bank of America (NYSE:BAC) and Citigroup (NYSE:C), the market indices have fallen. On Feb. 23, Larry Kudlow, co-host of CNBC's "The Call," asked CNBC Chicago Mercantile floor reporter Rick Santelli if the government should be involved in propping these troubled banks. Santelli made waves on CNBC's Feb. 19 "Squawk Box" railing against the Obama…

Advantage Rick Santelli -- and Larry Kudlow. CNBC reporter Santelli's Thursday morning "Shout Heard Round the World" (CNBC's term) objecting to the Obama administration's mortgage modification program on the floor of the Chicago Mercantile Exchange quickly went viral, and struck two nerves. First, it ignited a groundswell of support from the over 90% of the of the nation that pays its bills and…

Will wonders ever cease? First, a NBC network airs its Chicago Mercantile Exchange floor reporter making a call to action against all the populism that has inundated the political dialogue over the past six months. Now, the same reporter, Rick Santelli, has been invited by White House Press Secretary Robert Gibbs to the White House. On CNBC's "Street Signs" Feb. 20, Santelli told viewers he…

Updated below: Lucasfilm rep says Lucas backs Obama's economic policy, tax hikes on rich.Noting that "the cornerstone of American capitalism is that you can make as much money as you want when you work for a company," filmmaker George Lucas told CNSNews.com*, adding that he thinks salary caps for corporate executives should be decided by corporate boards of directors, not politicians:I think it…

Rick Sentelli's rant for the ages (transcript here) on CNBC's Squawk Box yesterday criticizing the recently passed stimulus package and the Obama administration's mortgage modification program was marred somewhat by the studio hosts. Though their tone was semi-humorous, it's telling that their instincts were to characterize the traders present at the Chicago Mercantile Exchange as a "mob," and to…

Katie Couric concluded a Thursday night look at the pros and cons of nationalizing banks by seeing the federal government as a comforting security blanket: “Nationalization may have a psychological impact as well, and Uncle Sam wrapping his arms around failing banks in this country might provide a big dose of confidence for the American consumer.” Building to her pro-nationalization conclusion,…

Wow. Rick Santelli of CNBC (picture at right is from his bio page) let the elitists running what is turning into a planned economy in Washington have it today with a rant for the ages.The direct CNBC link is here, while a YouTube is here. Allah at Hot Air has an embed. What's really revolting about this is the studio reaction. While it's maybe half-kidding at times, the fact that strong…

On Tuesday’s American Morning, anchor Kiran Chertry and correspondent Jason Carroll failed to mention the left-wing politics of filmmaker Michael Moore during a report about his latest project, which targets the financial industry, and included a sound bite from People Magazine’s Leah Rozen, who expressed a desire to “see Michael Moore spank Wall Street.” Carroll emphasized Moore’s credentials,…

With so much populist outrage at bankers and other corporate types these days, Hollywood is predictably trying to capitalize on it (TNT's "Leverage" is just one example.) "The International," from Relativity Media was just the latest to hit theaters with its Feb. 13 opening. In the slow-moving thriller "The International," the executives of the fictional International Bank of Business and…

ABC's Cokie Roberts denounced as “irresponsible” conservative opposition to the “stimulus” bill and suggested those who voted against it should be punished, declaring on Sunday's This Week: “I just think that when you're in a situation like this, to do nothing is so irresponsible that you can't, you can't get away with it.” Earlier on the show, host George Stephanopoulos pressed Congresswoman…

Everything is wonderful and peachy-keen in Obamaland if you rely on the reporting on the front page of The New York Times. Just ask CNBC's Jim Cramer. On his Feb. 12 program the "Mad Money" host dealt with the $789 billion stimulus package. "Now if you were to believe what's in the papers, holy cow - except for the funny papers - you would think this package was wonderful," Cramer said he said…