Economy

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…

Yesterday, The New York Times Company suspended its quarterly dividend. The company's stock slid 5% to close at $3.51, yet another all-time low in the company's nearly 23 years as a public company in its current form (the Times has been a public company since the 1960s).Henry Blodget at Silicon Valley Insider noted, even before yesterday's announcement and share-price dip, that the company's…

Before today, CNBC "Mad Money" host Jim Cramer was known for his outlandish statements and crazed antics that would land him in the public spotlight. However, Cramer got one-upped today by CNBC's Rick Santelli, calling for something like a "Chicago Tea Party" revolt against the redistributionism that is plaguing our federal government. Cramer, in his "Stop Trading" segment on CNBC's "Street…

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…

It's been called "the rant heard around the world," after The Drudge Report linked to the video with a screaming red headline. However Rick Santelli may have given CNBC viewers a preview of what effects Obamanomics will have on the populace. On CNBC's "Squawk Box" Feb. 19, the Chicago Mercantile Exchange floor reporter, along with several traders, expressed his outrage about President Barack…

On Thursday’s CBS Early Show, co-host Harry Smith opened the show by declaring: "As President Obama heads on his first foreign trip, some state governors are saying 'thanks, but no thanks' to the stimulus money, even in these desperate times. We'll ask one of them why." Later, co-host Maggie Rodriguez interviewed Republican South Carolina Governor Mark Sanford and asked: "Even if it takes a while…

For the Chicago Tribune, Romney supporter turned Obama man Douglas Kmiec indulged in quite a litany of name-calling, finger pointing and demagoguery against the GOP that would have been amazing from the same man only one year ago. Hopefully questioning "The Death of the GOP," Kmiec has shown that he no longer cares much how he is viewed, going full Democrat Partisan at this point.In his Tribune…

So where did the Cleveland Plain Dealer's Sabrina Eaton go for opinions on what Michelle Malkin earlier today called "the massive mortgage entitlement campaign launched by President Barack Obama"? Why, they went to "housing experts," of course. But the people she quoted aren't builders, realtors, mortgage lenders, mortgage brokers, or economists. Nor, based on the area's results, are they experts…

On Tuesday’s CBS Evening News, correspondent Chip Reid described Barack Obama’s signing of the massive "stimulus" spending bill into law: "After a mere four weeks in office, the President today signed what he called ‘the most sweeping economic recovery plan in American history’...A new law that he described as a new beginning...In Missouri, the reaction was instantaneous. As the bill was signed,…

While many Hollywood stars may have raised a champagne flute yesterday to mark President Obama's signing of the stimulus package, actor Kelsey Grammer was not among them. The actor best known for his roles in "Cheers" and "Frasier" told NewsBusters's sister organization CNSNews.com recently that he was a "free enterprise guy" who feared that CEO pay caps included in the corporate bailouts were a…

ABC's World News on Tuesday night celebrated President Obama's signature on the 'stimulus' package by devoting a full story to how mayors will supposedly use their portion to create 1.6 million jobs. Fill-in anchor Diane Sawyer recited “the wish list” of “nearly 19,000 infrastructure projects -- roads, bridges, mass transit -- costing some $150 billion” and “the mayors argue that the projects are…

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,…

ABC reporter Jake Tapper on Tuesday's "Good Morning America" recited several times the not-exactly breaking news from the White House that Barack Obama admires Franklin Roosevelt. During a piece on the stimulus package, he informed, "Obama is said to admire FDR's fireside chats for the President's ability to explain problems so the average American could understand them and feel confident a…