Banking/Finance

There's a theory floating around the right side of the blogosphere that NBC removed a "Saturday Night Live" skit from the Internet because the network had second thoughts about making fun of liberals or caught too much heat for doing so.But a new theory has surfaced in the mainstream media. Advertising Age is reporting that the skit may have been pulled for apolitical reasons. "A good guess: The…

It's the kind of socialist attitude that would make Venezuelan dictator Hugo Chávez proud. Unfortunately, it's coming from a New York Times columnist making recommendations for the U.S. financial system. Times' columnist Paul Krugman appeared on MSNBC's Oct. 6 "Rachel Maddow Show" and made the prediction that the federal government would have to take over the American financial system after…

In case viewers did not understand the concept of a domino effect caused by the financial crisis, on Wednesday’s CBS Early Show, co-host Julie Chen offered a visual representation as she declared: "What happens on Wall Street affects all of us on Main Street. It's the classic domino effect." At that point, six giant dominos where displayed in the studio, each one labeled with a different phase of…

While both CNN.com and FoxNews.com sent e-mail alert subscribers "breaking news" alerts on the Dow's steep slide yesterday in reaction to failure of the bailout package in the House of Representatives, CNN didn't think it worthy of a breaking news text to note the gains made today in the market.Here are the Fox News text messages sent on September 30 regarding the Dow Jones: DOW REGAINS NEARLY…

On Tuesday’s CBS Early Show, correspondent Jeff Glor reported on the presidential candidates’ reactions to the failure of the financial bailout, beginning with Obama: "Barack Obama's campaign had already released copies of a planned speech, saying lawmakers have agreed on an emergency plan. When that prediction went poof, Obama urged calm." Glor then turned to John McCain: "But Politico's Mike…

Giving a pass to House Speaker Nancy Pelosi for her failure to cajole enough Democrats to vote for the bailout agreement, Newsweek's Daniel Gross blamed the minority Republican conference, accepting without skepticism the argument that a partisan speech by the San Francisco Democrat caused some Republicans to vote "nay" out of spite alone:Was the bailout bill killed by malice or by incompetence?…

Let's award a point of light to Matt Lauer.  On this morning's Today, he called out Rep. James Clyburn (D-S.C.) for calling for an end to the blame game . . . right after the congressman blamed John McCain for failing to rally his Arizona troops to vote for the bailout.  But that didn't stop Clyburn from continuing to try to pin the tail on the elephant.JAMES CLYBURN: We promised 50% of our…

The news comes from Media Bistro's DC Fishbowl, with a twist that the post overlooked: On Friday's "Hardball," Chris Matthews interviewed a number of student members of the group Concerned Youth of America. One of those students -- Caroline -- is his daughter, a student at the University of Pennsylvania. Did Matthews disclose that fact as he interviewed her? Not so much. One tipster tells…

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…

In a September 29 blog post aimed at "Placing Blame" for failure of the bailout package in the House of Representatives today, Time's Joe Klein began by tossing, "I don't blame John McCain for not rounding up enough Republican votes to get this bailout bill through the House of Representatives."Klein added a few other reasons he doesn't blame the Arizona senator:...he's never held a leadership…

The theory that bailout legislation recently defeated in the House of Representatives would make money for the federal government has been propagated by the financial media. But according to a recent report released by the International Monetary Fund (IMF), a profit is unlikely. The September 2008 report from the IMF stated the chances of the government recouping anything more than just a…

Like an MSM version of Nancy Pelosi, whose hyper-partisan floor speech reportedly angered many GOP members, Chris Matthews wasted no time in trying to pin the blame for the defeat of the bailout plan on John McCain.  Appearing during MSNBC's 2 PM hour, the key to Matthews' argument was his assertion that Dems "overwhelmingly" supported the measure, whereas McCain failed to rally a sufficient…

As I write this on Monday afternoon, the People's House has rejected "the $700 billion bailout." You won't believe, unless you're a very experienced cynic, where that $700 billion figure came from. The answer appears to be "out of nowhere." With no basis. I'm not kidding. Here's the evidence, carried six whole days ago at Forbes (HT LAT's Top of the Ticket Blog via BizzyBlog commenter Dan Scott…