Economy

Yesterday's indictment of former Reagan budget director David Stockman was cause enough for the Washington Post's Jeffrey Birnbaum to use Stockman's personal ethical and possibly criminal lapses in the private sector as a way to lodge liberal attacks on the Reagan tax cuts. But that was just the beginning for Birnbaum, who, in a Washington Post chat later that day, said that "without question,…

During his online "Critiquing the Media" chat on Monday, Washington Post media reporter Howard Kurtz agreed with criticism that today's story on immigrant "victims" of mortgage lenders didn't seem to assume that borrowers are in any way responsible for failing to make their mortgage payments. He even agreed with the online questioner's suggestion there was "subtle racism" in the tone of the story…

From a CNN e-mail I received shortly after the close of Friday's stock markets (this was the entire message): Wall Street fights off mortgage-risk-induced woes to end the week higher, with small gains Friday. Anyone reading this e-mail would have thought that this was a net ho-hum week on The Street. After all, the e-mail merely said that the week ended "higher." "Higher"? More like "way, way…

Something rather extraordinary occurred last December which had extremely ominous implications for stock investors around the world, but got totally ignored by the media. In fact, if not for a recent video posting at YouTube, and a March 20 article in the New York Post, these spectacular revelations would still be well under the radar.On December 22, CNBC’s James Cramer did a web interview for…

Friday, Wal-Mart dropped its bid to establish a federally insured bank. It's ridiculous that they had so much trouble getting approved, because as the linked article noted: Industrial banks have been proliferating in recent years — Target Corp., UnitedHealth Group Inc. and Harley-Davidson Inc. are among the nearly 60 that now exist. Critics say their growth dangerously blurs the line between…