Banking/Finance

Capitalism Derangement Syndrome was on full display during Wednesday's House Financial Services Committee hearing when Chairman Barney Frank (D-Mass.) accused the financial industry executives present of needing to be bribed with bonuses to do their jobs.That's right: a bonus is now the equivalent of a bribe as far as Frank is concerned.Given the beating capitalism and the free market have been…

Imagine for a moment an American newspaper publishing a column with the following opening sentence:Has Barack Obama’s presidency already failed? Not in a million years, right?Well, on Wednesday, one of the most respected international publications, the Financial Times of London, published such an article written by its associate editor and chief economics commentator Martin Wolf. In it was an…

In excerpts aired on Tuesday's World News, of Terry Moran's interview with President Barack Obama for Nightline, Moran was as sycophantic toward Obama as he was during the campaign, lamenting Obama “got no honeymoon” and bemoaning the new President had been “too nice” to Republicans. “Mr. President,” Moran rued in overlooking the ongoing honeymoon from the media, “you got no honeymoon. Not a…

The Obama-loving media might adore flowery rhetoric with little substance, but stock investors sure don't.That's what traders and market professionals said was responsible for Tuesday's stock market collapse after Wall Street was tremendously disappointed with the lack of specifics in the highly-anticipated bank rescue plan presented by newly confirmed Treasury Secretary Timothy Geithner. As such…

With the turndown in the economy and the crisis in the financial services industry, capitalism bashing has become all the rage at mainstream media outlets.From making fun of corporate jets to lambasting executive pay, liberal press members are creating a cottage industry blaming all the world's problems on the free market.Unfortunately, there are economic consequences for this "Capitalism…

As the financial crisis hit last September, NewsBusters regularly informed readers of the truth behind the matter, and that media assertions the Bush administration was to blame were politically motivated falsehoods intentionally designed to get Barack Obama elected president.On Saturday, the financial publication Barron's offered readers an editorial by Hoover Institution visiting fellow Scott S…

While the Obama administration and its media minions castigate financial industry executives for their so-called greedy ways, a couple of inconvenient truths are going largely un- or under-reported: one bank being criticized for a lavish convention in Las Vegas was forced to take TARP money in October, while another is trying to pay back the funds to regain its autonomy.As the press had a field…

Newsweek's Jon Meacham and Evan Thomas are tired of all this talk of socialism. We need to stop talking about yesterday's news, they say, and embrace the great new fact that America is already a socialist country. They chortle that America is just like France. Meacham and Thomas chide Sean Hannity for using socialism as a dirty word because it "seems strangely beside the point." The pair is…

Roughly five months after Joe Biden informed the nation that paying higher taxes is patriotic, it now appears radically increasing government spending and the federal debt is as well.At least that's what one gets from a New York Times piece Saturday applauding a Senate compromise on President Barack Obama's stimulus package.Here are the paragraphs where patriotism was prominently mentioned (…

Say goodbye to hope and change. It's time to embrace the politics of doom and gloom. MSNBC host Contessa Brewer, in an interview that seemed a lot like a lobbying campaign for the stimulus set for a vote in the U.S. Senate, quizzed Sen. John Barrasso, R-Wyo., about the possibility that his vote against a stimulus bill could send the country spiraling into a Depression - and endanger the public's…

He might be on the Forbes list of billionaires with a net worth of $1.3 billion and he may appear frequently in the financial media, but Pimco's Bill Gross doesn't have a grasp of how much "trillions" are. Gross recently called for a massive government intervention or face certain catastrophe.  "This economy requires support from the government, a check from the government in some form or…

On Thursday's "Today" show NBC reporters offered little skepticism of Barack Obama's dictations to corporate America, instead buttressing Obama soundbites with sloganeering as, Meredith Vieira declared, "President Obama lashing out at Wall Street and clamping down on corporate fat cats," and Savannah Guthrie underlined, "The President bashed Wall Street," and "took a shot across the bow." The "…

With all the populist sentiment generated from the economic slowdown by politicians, CNBC "Mad Money" host Jim Cramer is seeing eerie similarities with the comments of President Barack Obama and the words of a communist revolutionary. Cramer, appearing on MSNBC's Feb. 2 "Morning Joe," drew comparisons between remarks between the first head of the Soviet Union, Vladimir Lenin, and Obama. Obama…