CNBC Guest Host Explains How TARP is Driving Up Oil Prices
Chalk another one up to the law of unintended consequences. Last fall, the media promoted the $700-billion TARP bailout. During the weeks and months leading up to that bailout, they were also on board with cracking down on oil speculators for driving up the price of oil. But now it seems the TARP program is contributing to oil speculation. On Aug. 3, Richard Bernstein, CEO of Richard Bernstein…
Cramer Credits Tech Stock Rally to Immunity from Obama, 'Politburo Chi
CNBC "Mad Money" host Jim Cramer credits lack of government regulation with a recent market jump in technology stocks. The tech-heavy NASDAQ composite (NASDAQ) shot upward 3 percent, from July 8 through July 23, even defying other market indexes that had down days in the same time period. Cramer theorized on his July 23 show that the tech sector during that time period, despite the setback on…
Cramer’s Cure for Ailing Stock Market: News Media Blackout of 'Bolsh
CNBC "Mad Money" host Jim Cramer often showcases erratic and unpredictable behavior and the same goes sometimes for his analysis of the stock market. While the economy continues to struggle through the recession, the forward-looking indicators known as the financial markets continue to perplex Cramer for not going up when some positive signs, also known as "green shoots" by the financial media,…
MSNBC's Ratigan Shows How Journalism Should Work
Journalists, take note: Dylan Ratigan should be your model.Despite working for MSNBC, Ratigan has shown a hard-nosed, take-no-prisoners interview style that is quickly gaining him the reputation for being the toughest interview on television. It isn’t often that an MSNBC host can claim to be tough on both sides of the political aisle, but the former CNBC correspondent could probably do it with a…
Santelli Blasts Obama's Warning on Taking 'Reckless Risks' as 'Un-Amer
Should it be the role of the government to determine what amount of risk is appropriate in the private sector? President Barack Obama could have been interpreted as suggesting that much in comments he made about TARP repayments on June 9. CNBC's Rick Santelli responded to those comments earlier in the day from Obama, "that those who seek reward do not take reckless risks." Santelli said on CNBC'…
Comparison: Economic Reporting Under Bush, and Under Obama
Ed Frank created an interesting little video that serves as a stark reminder of how harsh the Old Media was on Bush's "faltering" economy in comparison to today's hearts and flowers style of reporting during the age of Obama, even though the stats are far, far worse under Obama than they ever were under Bush. Frank's video is shocking for its revelation of how Bush was slapped around and how…
CNNMoney's Hour-Later Employment Report Reax: 'Better Than Expected
It doesn't seem like it would be too much to ask CNNMoney's headline e-mailers to read past the first sentence of a government announcement. But, maybe it is. Here are the first two sentences of the Employment Situation Report from Uncle Sam's Bureau of Labor Statistics released this morning: Nonfarm payroll employment fell by 345,000 in May, about half the average monthly decline for the prior 6…
Santelli Claims Geithner 'Lying to the American People' on Monetizatio
With the federal government issuing massive amounts of debt and the Federal Reserve purchasing it in the name of keeping interest rates down, questions have arisen about impact on the U.S. dollar. On June 2, CNBC's "Power Lunch," aired a clip of the network's chief economics reporter, Steve Liesman interviewing Secretary of the Treasury Timothy Geithner. Geithner claimed the Federal Reserve…
Sowell: Government's Current Role in Business the 'Route' to Fascism
The media have lamented use of the word fascism when it has been used to describe moves by the Bush and Obama administrations and the private sector economy. But when examined from a purely political and economic point-of-view, that is what's going on now according to Thomas Sowell, Stanford University's Hoover Institute Senior Fellow and author of "The Housing Boom and Bust." Sowell appeared…
More Trouble at CNBC? Network's Macke Reportedly at Odds with Manageme
Is there another shakeup imminent at CNBC? Since the economy has been on the rocks, NBC Universal's financial network has been in the spotlight - political tug-of-war and all. This time, another one of the network's star on-air personalities, Jeff Macke, could be out. Macke had been a cynical, sometimes conservative voice on CNBC's "Fast Money" and in other CNBC and MSNBC appearances, often…
Cramer Claims Stewart Was Trying to Get Him Fired: 'One Day He'll Answ
Usually when CNBC's Jim Cramer is making headlines, it's for his outrageous antics or over-the-top statements. Not this time. Time magazine's Justin Fox interviewed Cramer asking him questions submitted by readers which was posted on Time.com May 14. Two of those questions dealt with his March 12 appearance on Comedy Central's "The Daily Show." In his answers, Cramer accused Jon Stewart of…
'Fast Money' Cast Debunks Legend of 'Dr. Doom' Roubini
He's beloved by the gossip culture of Manhattan and was recently embraced by the left for hurling insults at CNBC "Mad Money" host Jim Cramer. But as Cramer's CNBC "Fast Money" colleagues explained, if you listened to NYU professor Nouriel Roubini, you would have missed out on a lot of stock market upside. Roubini, often called Dr. Doom and known for crazy parties, predicted back in 2005 the…
WSJ: Treasury's Stress Test Results 'Negotiated' -- Not To Mention Arb
It's a whole new wrinkle on the old joke about accountants (when asked what 2 + 2 is, he or she replies, "What do you want it to be?"). The Wall Street Journal reported yesterday that the reported results of the financial institution stress tests were negotiated: Banks Won Concessions on Tests Fed Cut Billions Off Some Initial Capital-Shortfall Estimates; Tempers Flare at Wells The Federal…
Santelli Excoriates Liesman for Acting Like Nixon, Saying 'Dumb Things
CNBC's Steve Liesman has always gone after tea party inspiration and network floor reporter Rick Santelli for his views, but this time it was Santelli playing offense. The CNBC "Power Lunch" crew was discussing Bank of America (NYSE:BAC) CEO Ken Lewis and disclosure of details surrounding his bank's acquisition of Merrill Lynch May 5. Santelli accused Liesman, CNBC's senior economics reporter of…
