Personal Finance

Sometimes former CEOs have a reason to be downbeat when they make predictions. Former Chairman and CEO of Citigroup Sanford Weill told CBS's "The Early Show" Oct. 28 that unemployment would hit 9 percent and that Wall Street CEOs "didn't deserve bonuses this year." It went something like this: Well, I think we've set in motion a whole series of events that is going to make the economy…

Imagine that a week before a presidential election, a radio interview surfaced in which the Republican candidate had called for, say, the abolition of Social Security. Now imagine the broadcast networks' reaction to that nugget: "We interrupt regularly-scheduled programming for this Breaking News," followed by 24/7 coverage with talking heads pondering the devastating impact on America's seniors…

I suppose that mocking Republican candidates is an essential element of a Washington Post editorial writer's job description.  Even so, it was jarring to hear the snide comments of WaPo editorialist Jonathan Capehart [seen right in file photo] about Sarah Palin read on the air today.  Not merely did he mock her shopping habits, Capehart came very close to accusing Palin of . . . "child abuse."…

It may not have been "huge" when CNBC's Joe Kernen said it but the dude has been on practically every news station by now. Kernen told chief Washington correspondent John Harwood that the "Joe the plumber" story "would be huge" and even a "bombshell," in any other election year. Kernen said voters "don't care" because they are buying into Sen. Obama's assertion that the Bush tax policies have…

Who you gonna call to fix the economy? Kids. The Dow dropped 5,585 points since its high a year ago, banks have been afraid to lend and the government bought billions in toxic mortgage-backed securities. So CBS's "The Early Show" went to some top finance experts to explain what was happening to viewers, right? Nope, they went to kids, Oct. 10. Weatherman Dave Price talked to fifth graders…

Private CEOs? Yes. Government-sponsored CEOs? No. In a September 19 "Good Morning America" preview of a report scheduled to appear on the same day's edition of ABC's "20/20," chief investigative reporter Brian Ross took a few jabs at the rich who had fallen. Ross called it "the end of a shameful chapter of American history," and although top executives on Wall Street had been hit hard in…

On a day when markets are in turmoil, you might think that the role of an American president, current or aspiring, would be to assure his fellow citizens—and the world—that our economy is fundamentally strong.  That's what John McCain did.  In contrast, Barack Obama suggested that the American economy is fundamentally weak.  WaPo's Jonathan Capehart has declared Obama the winner of the exchange,…

Thanks to Sarah Palin, the culture war has become a civil war—on the left. Mika Brzezinski bravely opened a new front in the conflict during today's "Morning Joe," repeatedly going after two female MSMers for suggesting Palin is taking the working-mom thing too far.  And, mirabile dictu, Mika even admitted to sensing MSM unfairness to Republicans."This is an argument Joe and I have about fairness…

Just one paragraph tucked toward the end of a column.  But Judith Warner's words offer a revealing insight into how liberals view economics and the world at large. In the lefty mindset, making it isn't a matter of doing or making something of value.  It comes down instead to contriving to get a piece of the action, a share of the wealth that some undefined other has created in some undescribed…

How do you make the foreclosure crisis seem even scarier? Add in a potentially deadly virus. CBS's "The Early Show," reported August 7 that a new stronger strain of the West Nile virus could spread across the country with help from the neglected pools found in foreclosed homes in California. "Apparently ... as more and more homes are passing into foreclosure and there are many, and many of…

If you believe that there's a 50-50 chance that your take-home pay will be cut by almost one-fifth beginning in as little as five months from now, would that belief affect your current spending habits? Of course it would. But that idea apparently never occurred to the Associated Press's Mark Jewell. In the course of a 950-word article Monday about how the rich are getting more stingy, he focused…

Earlier this month, former senator and John McCain economic advisor Phil Gramm was widely excoriated for his remarks about America being a "nation of whiners," discouraged by negative media reports fueling fears of recession.As my colleague Nathan Burchfiel noted, the context of Gramm's remarks were the media's role in accentuating the negative in economic news and hence ginning up the public's…

A night after ABC anchor Charles Gibson hit full panic mode by leading with how “markets are gyrating, inflation is rising, banks are closing” and suggesting money is only safe “under the mattress,” on Wednesday night he actually began with how “Wall Street posts its best day in months. Financial stocks rise. The price of oil falls.” But he couldn't be completely upbeat as he proceeded to note…

In the wake of former Sen. Phil Gramm's statements earlier this week about this being a nation full of whiners, the good folks at ABC's "Good Morning America" brought on a consumer psychologist Sunday to discuss whether or not the McCain advisor had a point.Shockingly, not only did Kit Yarrow tell host Kate Snow that "the way consumers feel about things is very emotional," but also these "…