Banking/Finance

In a Friday piece, New York magazine’s Jonathan Chait delved into why he’d welcome seeing Donald Trump atop this year’s Republican ticket. For one thing, there's the possibility of permanently driving a wedge between the party’s masses and its financial elite. “The GOP is a machine that harnesses ethno-nationalistic fear…to win elections and then, once in office, caters to its wealthy donor base…

Appearing as a guest on Saturday's CNN Newsroom with Poppy Harlow, CNN political commentator Carl Bernstein declared that, after spending time talking to the White House about Hillary Clinton's paid speeches to Goldman-Sachs, that they are "horrified" that Clinton is "blowing up her own campaign," and invoked President Richard Nixon's tapes as possibly comparable to the transcripts of her…

Madoff was a very well done, 4-hour television event. Telling the story of, obviously, Bernie Madoff and his $50 billion dollar Ponzi scheme, it had a very “Goodfellas” feel to it, complete with good use of flashbacks and music.

Critics who warned in 2010 that the odious Dodd-Frank law's Consumer Financial Protection Bureau would become a rogue agency which would become a largely unaccountable behemoth on a mission to create problems where none exist could not have been more correct. Sadly, searches on terms relevant to one of the agency's latest controversies involving the distribution of funds in a two year-old auto-…

Over the past several months, economics reporters at the Associated Press have told us time and time and time again that the U.S. economy is "largely insulated" from adverse economic developments overseas. So why is the AP's Martin Crutsinger going along with the now-shifting conventional "wisdom" that Janet Yellen's Federal Reserve may have to defer implementing additional interest-rate…

Hillary's in hot water. Needs Fauxcohantas. That, in a nutshell, was Mika Brzezinski's argument on today's Morning Joe. At the end of a segment highlighting the way Bernie Sanders has gone after Clinton for the massive "speaking fees" she's received from Goldman Sachs and other Wall Street firms, Mika concluded: "the only person that can help her now is Elizabeth Warren, and she's going to have…

The Associated Press's coverage of Friday's deep U.S. stock market dive in two Friday afternoon reports engaged in the reality avoidance longtime readers here have come to expect. An item by Stan Choe ("Get used to it: Big drops for stocks are back again") spent most of its verbiage on "volatility," and only cited "China's sharp economic slowdown ... Tensions in the Middle East ... the plunge in…

The press's fierce determination to avoid blaming any of the steep decline in this nation's stock markets so far this year on horrid U.S. economic data, or on the Obama administration which has given us such a sour economic environment, has gone way beyond annoying. Shortly after noon at Yahoo Finance, as the Dow Jones Industrial Average's Friday dive hit 500 points, Nicole Sinclair, who is also…

On Saturday, after one of the worst year-opening weeks for the stock market in many years, Myles Udland at BusinessInsider.com complained that "The stock market is having a nightmare start to 2016 and it's all the Fed's fault." This sentiment is apparently widely held in the media. At NationalInterest.org on Tuesday, Christopher Whalen wrote that "the Fed created the current unstable market…

Wait a second: wasn't it just this month that Hillary's handlers announced they were going to have her show a warm 'n fuzzy side, with more "heart?" So who was the genius who coached Clinton to announce that as president she would "impose much harsher restrictions" on financial institutions under Dodd-Frank? She'll "impose much harsher restrictions?" Brr! Isn't that the Stone Cold Hillary…

Joining new Late Show host Stephen Colbert on Wednesday’s show, Democratic Senator Elizabeth Warren (Mass.) received quite the welcome as the liberal late-night host compared her to Batman and repeatedly urged her to consider running for president. Near the tail end of his opening monologue, Colbert hyped that Warren “has launched a one-woman crusade against the billionaire class” and is “like…

The business press just can't understand why the Federal Reserve decided not to raise interest rates on Thursday. After all, these alleged journalists have been telling us for months bordering on years that U.S. economy is really in good shape. So it should be able to handle a rate hike, especially after over seven years of rates at essentially zero. The problem is that they now believe their own…

The business press is trying to convince readers, listeners, and viewers that Janet Yellen's Federal Reserve kept interest rates at zero not because of U.S. economic conditions, which supposedly "look good" with "steady economic growth." No-no. She stayed the course because of the troubled tglobal economy. Thursday evening, Reuters wrote that the Fed failed to move "in a bow to worries about the…

In his MSNBC show The Last Word Tuesday evening, Lawrence O’Donnell dedicated a segment to describing his opinion of what “good and bad socialism” looks like. Naturally his example of “good” socialism included the man and policies Bernie Sanders. It also included a 6 year old cover from Newsweek magazine that proclaimed “We Are All Socialists now,” which detailed how it's becoming normal (and…