Banking/Finance

Want to make a big splash to bolster your chances in a political campaign? A tried and true strategy for some attorneys general has been to champion a populist position by exploiting the legal system for publicity. Just look at the lead up to the launch of former New York AG Eliot Spitzer gubernatorial campaign with his attacks on Wall Street. And that appears to be the playbook California…

Lately there's has been an anti-Wall Street sentiment, propagated by the media that has become exacerbated as the Dow Jones Industrial Average (DJIA) hit 10,000 Oct. 14. On CNBC's Oct. 15 "Street Signs," Jim Cramer, host of "Mad Money," was asked by fill-in host Melissa Francis what he thought about the outrage over Wall Street hitting its stride, while unemployment continues to rise. "What did…

Michael Moore makes propaganda movies and many in the news media embraced his latest screed against the free markets: "Capitalism: A Love Story." To NBC, hating capitalism makes Moore a go-to expert for Wall Street bashing. "Today" interviewed Moore, along with MSNBC's Dylan Ratigan on Oct. 15, in a hit piece on Wall Street bankers and bonuses. Moore reacted to the bonuses with condemnation of…

Here was a chance for Sen. John McCain, R-Ariz. to admit he was wrong, and to conclude publicly that government intervention in the private sector doesn't always result in the best of outcomes. McCain appeared on CNN's Oct. 11 "State of the Union" in a pre-recorded interview and was asked by host John King if the lackluster recovery of the economy warranted more government intervention. "The…

As if the Fannie Mae and Freddie Mac (Fan and Fred) crackups weren't bad enough, IBDeditorials.com noted on Thursday evening that another bad-mortgage shoe is about to drop. This time it's at the Federal Housing Authority (FHA). First, let's revisit Fan and Fred to remind readers just how complete the disaster has been at these decades in the making Democratic crony-controlled entities. A…

It isn't often that one can see two decades of history re-written in under ten minutes.  But such was the occasion on this morning's episode of Morning Joe. Max Blumenthal, author of "Republican Gomorrah: Inside the Movement that Shattered the Party," spent his time on the show demonstrating the combined power of cognitive dissonance, wanton ignorance, and a willingness to re-write historical…

No, that's not a made-up headline. The foreclosed and/or evicted homeowners that have played such a role in the current economic meltdown - are they irresponsible borrowers that lived beyond their means or are victims that got swindled? Michael Moore is clear on where he thinks they fall. Moore matched up with Fox News and conservative talk radio host Sean Hannity on Hannity's Oct. 6 program…

In early July, following the very first month after Chrysler LLC emerged from bankruptcy, the Associated Press, in an unbylined report about changes in the company's board, saved this little nugget for the last of its eight paragraphs: Chrysler's poor June performance also casts doubt on whether the U.S. government's $7 billion allocation will be enough to get the automaker through the U.S. sales…

Reviewing September's detailed sales results in the car business carried at the Wall Street Journal, three things stick out immediately: The awful performance at General Motors -- down 45% from September 2008. Chrysler's even worse performance -- down "only" 42% from September 2008, but a mind-boggling 61% from September 2007 (62,197 in 2009, 156,799 in 2007) Ford's tiny decline of only 6%…

Scary times ahead? Perhaps, if you take credence in what Rep. Ron Paul, R-Texas, says. Paul, who had a strong grassroots following during the 2008 presidential election, explained on Glenn Beck's Sept. 30 radio program that perilous times lie ahead due to the Federal Reserve's loose monetary policy. Host Glenn Beck asked if voices on the left, including the left-wing media, were right - would…

Here's more "civility" from the Left. In a Chicago Tribune article today that appears to open as an attempt at humor but quickly devolves into nastiness, NPR-dependent radio host and author Garrison Keillor, among other things, attacks social conservatives, blames them and not those who have brought legal actions for years-long fights over keeping religious symbols right where they are, and --…

The headline and the first paragraph from this Friday Wall Street Journal report by Josh Mitchell and Stephen Power reads like a bad joke Jay Leno's writers would have discarded, because no one would believe it. The second paragraph isn't much better:Gore-Backed Car Firm Gets Large U.S. Loan A tiny car company backed by former Vice President Al Gore has just gotten a $529 million U.S. government…

The progressive mindset is a curious one, as evidenced by New York Times columnist and Nobel Economics Prize recipient Paul Krugman. Krugman appeared on MSNBC's Sept. 23 "The Rachel Maddow Show" and lamented that the Obama Administration missed the opportunity the recent financial crisis offered to fundamentally change how the American economy operates. Host Rachel Maddow asked Krugman what the…

If any policy maker watches Michael Moore's new movie, "Capitalism: A Love Story" and is influenced by it - be afraid, be very afraid. Moore appeared on CNN's Sept. 23 "Larry King Live" to promote his movie, but he shared with host Larry King his thoughts on why the stock market has rallied off its lows, despite a rising unemployment. His reasoning - Wall Street likes joblessness, because it's…