Banking/Finance

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…

How disappointed was Chris Matthews with Barack Obama's debate performance tonight? How angry was Matthews at Obama for agreeing so much with John McCain?  Enough that Matthews unleashed the ultimate Dem insult, saying Obama reminded him of . . . Richard Nixon.Matthews first vented his frustration at Obama adviser Linda Douglass.CHRIS MATTHEWS: Linda, my friend, why did your candidate agree so…

Sen. John McCain's decision this week to suspend his campaign and return to Washington to help address the financial mess wasn't an example of his campaign slogan "Country First." Instead - according to Democrats and the media - it was a chance for McCain to sabotage the deal so he could take credit for rebuilding it.  "Some Democrats suspect that he tried, that he's coming in, working with the…

On Friday’s CBS Early Show, correspondent Chip Reid reported on congressional efforts to negotiate a bailout plan for the financial industry and took the Democratic line that Republicans prevented an deal from being reached: "At one point, yesterday, it looked like the $700 billion bailout deal was ready to have the 'I's dotted and the 'T's crossed, but that's when the wild roller coaster ride…

Bush told the country that we are in an economic crisis and his Treasury Secretary, Henry Paulson, came up with an idea that would, it is claimed, end up actually making money for the U.S. Treasury in the long run. That's all well and good, but the Democrats already have a plan to siphon off any repayment of the people's money back to the treasury by adding one little line to the agreement that…

What is it with Democrats and their grotesque slurs upon the intelligence of their political rivals?  Last week it was Charles Rangel calling Sarah Palin "disabled."  Tonight on CNN, Paul Begala called President Bush "a high-functioning moron."Begala was on an Anderson Cooper-led panel with Republican Ed Rollins and CNN's Gloria Borger to discuss the state of the possible federal financial…

Networks have given more coverage this year to the 6-year-old collapse of Enron than the role of federal government-sponsored mortgage lenders Fannie Mae and Freddie Mac in the present financial crisis, Media Research Center President Brent Bozell noted in a September 25 interview with the hosts of Fox News Channel's "Fox & Friends." The NewsBusters publisher argued that the media's lack of…

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…

Interviewing John McCain on Wednesday's CBS Evening News, Katie Couric informed him and viewers that, during an interview of Sarah Palin she conducted earlier in the day, Palin warned of a “Great Depression” if the bail out is not passed, leading Couric to scold Palin to McCain: “But isn't so much of this, Senator McCain, about consumer confidence and using rhetoric like the 'Great Depression,'…

On Tuesday’s CBS Early Show, co-host Harry Smith interviewed Hillary Clinton on the government’s financial bailout plan and quoted Democratic talking points: "Is there a sense of urgency? Dick Durbin went into the well of the Senate the other day and said ‘why does this feel like Iraq all over again? Why does there feel like there has to be a rush to get this done?’" Clinton replied: "Well,…

Coverage of the banking crisis is everywhere. Pundits and politicos claim the instability is threatening the financial markets and the overall economy. However, ABC's Sept. 22 "World News with Charles Gibson" used the crisis to take a swipe at the wealthy. "In just six months, five major investment banks have now vanished from the landscape, ending an era of aggressive deal making and…

Hillary Clinton, Queen of Soul? Barack Obama, All-American teenaged girl?  That's precisely the analogy that Joe Scarborough made this morning in trying to explain why many Hillary supporters haven't swung to Obama.  Hillary was a guest on today's Morning Joe, and the interview offered a number of other interesting tidbits:Hillary dodged the question of whether Bill was telling the truth when he…