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…
Newsweek's Clift Blames Capitalism for Woes Facing Obama
It's a response that might incite laughter, as it did from conservative pundit Monica Crowley and MSNBC paleocon talker Pat Buchanan. According to Newsweek's Eleanor Clift, the current problems facing the country and President Barack Obama are due to capitalism. Clift, appearing on the syndicated April 26 "The McLaughlin Group" gave Obama high marks for his first hundred days and said…
Fireworks: Kudlow, Santelli Rail Against the Corruption of TARP and Go
If CNBC on-air talent has really had their hands tied by General Electric and NBC management on criticizing the current administration's economic policy, you couldn't tell it from watching Rick Santelli and Larry Kudlow. On CNBC's April 24 "The Call," Santelli expressed his frustration with an overreaction by the government to solve the financial crisis when Kudlow asked him about the expansion…
Smart Money E-mails Soften News of Monday's, Wednesday's Market Declin
I receive a daily e-mail from SmartMoney.com, usually within an hour or two after the stock markets' closing bell.While its descriptions of daily trading have usually been in sync with reality, in two of the past three days days they have whitewashed pretty dour news.Here's how Monday's capsule of the markets' results read:You might be surprised to learn how big Smart Money thought a mere "dip"…
CBS Commiserates Over Higher Bank Credit Card Fees; Ignores Gov't Take
It was either an effort to avoid blaming individuals for ill-advised borrowing or an effort to vilify the banking system, but a segment on the April 20 "CBS Evening News" took a very one-sided view of credit-card lending. On a day bank stocks struggled and dragged the Dow Jones Industrial Average (DJIA) down nearly 300 points, "Evening News" scrutinized the current state of the banking system's…
CNBC Allows Santelli to React to Tea Parties: 'I'm Pretty Proud of Thi
While Fox News has celebrated the Taxpayer Tea Party rallies and MSNBC has denigrated them, the impetus of the movement - CNBC and specifically Rick Santelli, its inspiration - had been conspicuously quiet about it. But on CNBC's "Squawk Box" April 15, co-host Joe Kernen asked Santelli what he thought of being a "cultural phenomenon." That was the same show Santelli famously called out President…
Huffington Calls Suspension of Mark-to-Market Accounting 'Absolutely T
She's been popping up in a lot of places lately to chime in on the economy. This time Huffington Post editor-in-chief Arianna Huffington appeared on ABC's April 5 "This Week," where she voiced her disapproval of the March 30 decision by the Financial Accounting Standards Board (FASB) relaxing mark-to-market accounting rules. "This week, we saw so many concessions to the banks," Huffington…
Cramer Breaks Ranks: Calls 'Bolshevik' Democrats Card Check Legislatio
Although CNBC "Mad Money" host Jim Cramer has backed off his hyperbolic attacks on President Barack Obama ever since his "Daily Show" appearance, he's shown that he's not afraid to take on the Democratic-controlled Congress. So, to give credit where credit is due, the "Mad Money" host dedicated an entire segment to the Employee Free Choice Act, aka card check and how its passage by Congress…
