Economy

Updated below. Last Monday as the U.S. House of Representatives voted down the initial bailout package, both Fox News and CNN sent e-mail alert subscribers numerous alerts about the Dow's dive. The market recovered some the following day, a development that CNN neglected to mention in the same e-mail alerts. Yet today, with the bailout package having been passed and signed into law by the…

Old Media's coverage of the recently-lifted executive and congressional bans on offshore exploration and drilling for oil and natural gas largely overlooked an important element that should have been very relevant to the discussion. Supporters of lifting the bans surely share much of the blame for only rarely citing it. Though they have frequently noted the hundreds of billions of dollars a years…

One of CNN's citizen reporters on their new iReport service caused a bit of panic for Apple's stock prices this week when one of those reports featured a false claim that Apple CEO Steve Jobs had suffered a heart attack. With rumors swirling the stock price fell until official news from Apple quashing the rumor calmed investors' fears.

Former Massachusetts Governor Jane Swift was diplomatic, but her message was clear: because Sarah Palin remains doubtful of getting a fair shake from the MSM, she wants to take her message directly to the American people. Swift, speaking on behalf of the McCain-Palin campaign, made the remark in response to a question from this NewsBuster during the course of a conference call this afternoon.…

"Here's another sad sign of our economic times: Never before has the U.S. Postal Service laid off workers. Now, it's a real possibility," lamented Joe Davidson in the October 3 "Federal Diary" feature for the Washington Post. But isn't that part of the problem with government in the first place? Rather than trimming expenses and payroll during tough economic times, the federal bureaucracy…

You've got to love brutal honesty, especially when it comes from the financial media. The Senate's version of a bailout bill, which passed last night by a margin of 74-25, included "sweeteners" - or obscure tax breaks - including benefits for the manufacturer of wooden arrows used in children's toys and another for litigants in the 1989 Exxon Valdez oil spill. Melissa Francis, co-host of CNBC'…

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…

Ever since liberal media types felt robbed by the Bush-Quayle campaign’s "lies" about Michael Dukakis in 1988, we’ve been suffering through the media elite’s attempts to "police" the facts in advertisements. "Correction" squads are insisting that John McCain can’t say Barack Obama will raise taxes, no matter how much that announcing Democrats will raise taxes is like announcing the sun will rise…

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…

CNN world affairs analyst Fareed Zakaria, in a column published in the October 6 issue of Newsweek, condescended towards Republican vice-presidential candidate Sarah Palin, labeled her "utterly unqualified to be vice president," and complimented Katie Couric for her "smart question" to the Alaska governor in a recent interview. He later asserted clairvoyantly that "she has never spent a day…

A Republican and a Democratic member of Congress attempted to calm "Good Morning America" news anchor Chris Cuomo during an interview on Tuesday. Cuomo interrogated GOP Congresswoman Marilyn Musgrave and her Democratic colleague, Mary Kaptur, about just what they would do now that the Wall Street bailout package had been rejected. After noticing the high pitched tenor in Cuomo's voice, Kaptur…