Michigan Mayor: No Auto Bailout Will Mean Depression
Just give us the money and nobody gets hurt. That was the warning from the mayor of Lansing, Mich., on CBS's "The Early Show" Dec. 2. "You know this is a sure prescription to go from recession to depression if you allow this auto industry, our manufacturing prowess, to fall by the wayside," Virg Bernero warned: This industry is too important, not just to Lansing, Mich., but to the whole…
ABC’s Claire Shipman: Obama, Geithner 'Could Have Been Separated At
ABC correspondent Claire Shipman lauded President-Elect Barack Obama’s Treasury Secretary-Designate Tim Geithner on Tuesday’s Good Morning America: “It might not be immediately obvious, but insiders say the President-Elect and his pick for the top economic spot could have been separated at birth.” She later quoted The Economist’s line about the future top bureaucrat, that both Obama and Geithner…
Unbylined AP Report: Krugman 'Opposed Bailout
The Associated Press can't even get it right in a three-paragraph item about a White House ceremonial event.In a story Monday afternoon about President Bush's meeting with two Nobel Prize-winning scientists and Nobel Economics winner Paul Krugman, the unbylined AP writer claimed that Krugman opposed the government's financial bailout. Evidence abounds that this is not only not the case, but that…
NYT: Obama's Treasury Pick 'Deserves Retirement Not Promotion
Are the good folks at the New York Times breaking ranks and actually criticizing a decision by president-elect Barack Obama?Such seemed to be the case Tuesday when the Gray Lady published, on the front page of the business section no less, an article highly critical of proposed Treasury Secretary Timothy Geithner.Entitled "Where Was Geithner in Turmoil?", Andrew Ross Sorkin's piece actually…
Reason Online: Clinton Admin Credited Deregulation for Good 1990s Econ
During the presidential campaign, we constantly heard from Team Obama and the media (excuse the redundancy) was how Republican-inspired deregulation had let evil bankers and capitalists run roughshod over the economy and created the current credit mess.Well, a lot of the deregulation was GOP-inspired, but that isn't what caused the situation that I like to refer to as The Great SUCKUP (The…
Saturday Fights: Neil Cavuto and Ben Stein Battle Over Bailouts
Neil Cavuto and Ben Stein had quite an argument about bailouts on FNC's "Cavuto on Business" Saturday morning that nicely covered the issues people on both sides of this contentious debate will likely be discussing around dinner tables this Thanksgiving, though hopefully with less screaming:
Brokaw Ignores Obama's FDR-Like Refusal to Work With Bush Economic Tea
Though given a perfect opportunity to do so, Tom Brokaw on Sunday chose not to discuss the similarities between Franklin D. Roosevelt's refusal to work with President Herbert Hoover on solving the Depression before he was inaugurated in March 1933 and president-elect Barack Obama doing the same thing today with George W. Bush. For those not familiar with the historical reference, the financial…
Fox Biz Anchor 'Frustrated' by Misuse of TARP
Fox Business Network anchor Alexis Glick is frustrated by the way the government's $700 billion financial bailout is being used, and suggested on "Money for Breakfast" Nov. 21 that it was contributing to market declines. "I mean, look, we are now at levels at least on the S&P that we haven't been since 1997. You know, people are pretty unhappy with how the TARP fund is going," Glick said…
Time's Klein Giddy For New Green Regulation of Auto Industry
Practically rubbing his hands in glee, Time magazine's Joe Klein exulted yesterday over Michigan Rep. John Dingell (D) losing out to the more liberal Rep. Henry Waxman (D-Calif.) for control of the powerful House Energy and Commerce Committee.Apparently Klein is happy that under Waxman the committee will succeed in decreasing both domestic energy and commerce with fresh, strict regulations on…
Media MIA On Emanuel's Crisis Comment
Remember the years of media flak President George W. Bush received for his alleged use for political gain of first the terrorist attacks of September 11, 2001 and then the related Afghanistan and Iraq Wars? Will the press be as vociferous now? Incoming Obama Administration Chief of Staff Rahm Emanuel, speaking on Wednesday on and to the Wall Street Journal Digital Network, stated outright his…
Stanford Prof.: U.S. 'Not in Anything Resembling' Great Depression
Pulitzer-Prize winning author and professor of history at Stanford University David M. Kennedy told Bloomberg radio Nov. 18 that the current financial crisis bears no comparison to the Great Depression. "Well, we're not yet in anything remotely resembling the crisis, the scale of crisis of the Great Depression." When Franklin Roosevelt took office in 1933, 13 million Americans were unemployed…
UK Paper Notes 'Surreal Scientific Blunder' in Global Temps Measuremen
Earlier today, Christopher Booker at the UK Telegraph noted a "surreal scientific blunder," followed by an attempted cover-up, that should cause everyone to question the source's past and future credibility. The source of the shoddy work is NASA's Goddard Institute for Space Studies (GISS), the outfit run by world champion globalarmist James Hansen. Hansen has in the past stated that "heads of…
Today: Let's Tinker With Insurance Rates In Name of Gender Equity
In the name of gender equality, the Today show plumped this morning for government regulation forcing health care insurers to charge men and women the same for individual policies even though women cost insurers more because of greater use of services. Hasn't the financial crisis taught the MSM anything about the danger of government meddling in markets? No. Insurers wind up paying out more in…
FBN Anchor: Treasury’s Misuse of TARP ‘Outrageous’; a ‘Mess
So what exactly is the government doing with your money? Fox Business Network's Alexis Glick would like to know. Treasury Secretary Henry Paulson announced Nov. 12 he would be redirecting the $700 billion bailout to focus on propping up financial institutions instead of buying troubled mortgage assets, which was the original intent of the rescue plan. Glick, the host of FBN's "Money for…
