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  • Like a Virgin Island Resident: Lefty financier and congresswoman’s fiancée dodged U.S. taxes

    10/15/2010 2:39:14 PM PDT · by Rufus2007 · 19 replies
    Weekly Standard ^ | October 15, 2010 | Alana Goodman
    As far as liberal financiers go, you don’t get much more powerful than S. Donald Sussman. Since 1989, the hedge-fund billionaire has pumped millions into the coffers of Democratic politicians and their political pet projects. Sussman sits on the board of the Center for American Progress, the Democracy Alliance and the dovish Israel Policy Forum, and he’s been one of the top contributors to left-leaning 527 organizations during the 2010 election cycle. But while Sussman has long kept a behind-the-scenes profile, a recent ethics controversy in Maine has flung him into the center of a complicated dispute over state residency,...
  • Krauthammer Not Surprised Obama Unaware of Shovel-Ready Jobs: No Shoveling at Harvard Law School

    10/13/2010 10:02:55 PM PDT · by Rufus2007 · 26 replies
    Newsbusters ^ | October 14, 2010 | Jeff Poor
    It’s quite remarkable to think about and unfortunately it is true. Throughout the 2009 stimulus debate early in his term, President Barack Obama and other Democrats argue it was time to put America to work with the aid of the government and so-called “shovel-ready jobs.” But in a startling admission in an interview with The New York Times’ White House correspondent Peter Baker, Obama said “there’s no such thing as shovel-ready projects.” So after the American taxpayers were sold a stimulus bill that was supposed to repair the country’s ailing infrastructure and stem the rise in unemployment, the president’s economic...
  • CNBC's Cramer Plays Populist: Wall Street Execs 'Should Be on the Chilean Copper Mine Diet'

    10/13/2010 8:07:47 AM PDT · by Rufus2007 · 3 replies
    Newsbusters ^ | October 13, 2010 | Jeff Poor
    So we’re back to this again? We’re 21 days out of the midterm elections and the media are back looking to capitalize on anti-Wall Street sentiments. On the Oct. 13 broadcast of NBC’s “Today,” host Matt Lauer referenced an Oct. 12 Wall Street Journal report to his guest, CNBC’s Jim Cramer, about Wall Street pay hitting a record $144 billion. Lauer, of course, just looked at the headline without examining exactly why pay on Wall Street reached that level. (The Journal cites “firms, benefiting from low interest rates and strong international markets” as a reason.) Instead Lauer argued that executives...
  • Arianna's Moment of Clarity: TARP Bailout Profitability Claim 'Economically' Flawed

    10/05/2010 8:49:38 AM PDT · by Rufus2007 · 4 replies
    Newsbusters ^ | October 5, 2010 | Jeff Poor
    So more government isn’t the answer to all of our problems? For a brief moment, that seemed to be the message Huffington Post editor-in-chief and co-founder Arianna Huffington was conveying. On CNBC’s Oct. 5 broadcast of “Squawk Box,” Huffington, author of “Third World America” explained what she thought the role of government should be in an American economic system. Now whether she was playing to the CNBC pro-capitalist audience or not remains to be seen, but she did depart with the so-called progressive/liberal view of government’s role in the economy, and criticized the Obama administration. “[S]o when it comes to...
  • CNBC's Kudlow: 'Serious Insider' Says NYC Mayor Michael Bloomberg Next Treasury Secretary

    10/01/2010 12:52:55 PM PDT · by Rufus2007 · 14 replies · 1+ views
    Newsbusters ^ | October 1, 2010 | Jeff Poor
    With what appears to be a devastating election looming for his party, is President Obama attempting to follow in the footsteps of one of his predecessors and moderate toward the center? Not if choosing Pete Rouse to replace chief of staff Rahm Emanuel is any indication, according to CNBC’s Larry Kudlow. On the Oct. 1 broadcast of “The Call,” CNBC Washington correspondent John Harwood predicted Treasury Secretary Timothy Geithner wasn’t going anywhere, but Obama would take a pro-business tack with the leadership of Department of Commerce. However, Kudlow, citing a “deep political insider,” had a different forecast. “The Commerce thing...
  • NY Times Op-Ed Writer's Muddled Logic: Money Not Paid in Taxes a Gift from Government

    09/27/2010 1:35:48 PM PDT · by Rufus2007 · 15 replies · 1+ views
    Newsbusters ^ | September 27, 2010 | Jeff Poor
    It’s a really skewed view of the relationship between citizens and the government – that anything you earn and get to keep by not paying to the government in the form of taxes is a show of benevolence from the government. But that’s apparently the view of Richard H. Thaler, professor at the University of Chicago. In the Sept. 26 New York Times, Thaler, declares that tax cuts are a gift in his op-ed “What the Rich Don’t Need.” “WANT to give affluent households a present worth $700 billion over the next decade?” Thaler wrote. “In a period of high...
  • Misread and Misreported: Tea Party Activism Bullish for Economy

    09/23/2010 9:36:11 AM PDT · by Rufus2007 · 8 replies
    Newsbusters ^ | September 23, 2010 | Jeff Poor
    One of the most common threads in the media recently has been how bad the Tea Party movement has been for this United States. It has been derided for lacking racial diversity, promoting policies outside the so-called mainstream and blamed for creating a civil war within the Republican Party. The media often stress those “negatives” at the expense of the positive basic tenets of the Tea Party movement: smaller government, fiscal responsibility and free markets – tenets that, when highlighted, are in fact bullish signals for an ailing economy. This is a phenomenon Larry Kudlow, host of CNBC’s “The Kudlow...
  • CNBC's Jim Cramer Credits CNBC-Obama Infomercial for 146-Point Dow Jones Rally (Video)

    09/21/2010 6:08:07 AM PDT · by Rufus2007 · 21 replies · 1+ views
    Newsbusters ^ | September 21, 2010 | Jeff Poor
    Someone's a little full of the power of his network apparently. On Sept. 20, CNBC hosted a so-called "town hall" meeting on its network about President Barack Obama and how his administration is dealing with business issues. Obama took some criticism from participants and observers said the president was playing defense. However, CNBC's "Mad Money" host Jim Cramer had a different take on the made-for-television event. According to Cramer, Obama's appearance was a net-positive for the stock market. "Do you know why this market went up and stayed up today, with the Dow voting 146 points, S&P rising one-and-a-half percent?"...
  • MSNBC's Savannah Guthrie's Soak-the-Rich Obsession: Higher Taxes Only Means of Lowering Deficits

    09/17/2010 11:11:26 AM PDT · by Rufus2007 · 20 replies · 1+ views
    Newsbusters ^ | September 17, 2010 | Jeff Poor
    Isn’t it odd after the passage of TARP, the stimulus and ObamaCare that left-wing politicians and their cheerleaders in the mainstream media are suddenly worried about budget deficits? As opposed to reining in deficit spending, the new public policy stance for the Democratic Party going into the 2010 midterm election is to call for a tax hike on the top-income earners by letting the Bush tax cuts expire for those folks. In an interview on MSNBC’s Sept. 17 “The Daily Rundown” with Sen. John Cornyn, R-Texas, co-host Savannah Guthrie pressed the Texas senator on the need to raise taxes in...
  • CNBC's Kernen Declares Obama's Populist Tactics Proof He Advocates 'Redistribution of Wealth'

    09/08/2010 11:30:04 AM PDT · by Rufus2007 · 8 replies
    Newsbusters ^ | September 8, 2010 | Jeff Poor
    To many, it's hardly a revelation to most, but when someone keeps taking the same action over and over again, even to his detriment, it can reveal a lot about that individual's belief system. This was an observation CNBC "Squawk Box" host Joe Kernen made about the Obama administration's willingness to embrace a populist "soak the rich" tactic against the wealthy in the United States, even though it isn't winning him favor with the American people, according to opinion polling. A new ABC News/Washington Post poll shows more people now think President Barack Obama's policies have hurt the economy than...
  • Krauthammer: Economic Metrics Indicate 'Fear,' Meaning 'Party in Power has No Chance Whatsoever'

    08/26/2010 6:16:29 PM PDT · by Rufus2007 · 16 replies
    Newsbusters ^ | August 26, 2010 | Jeff Poor
    Better strap in because we could be on a wild ride if what some economic prognosticators are saying is true - not just on a financial market basis, but politically as well. Noted economist Nouriel Roubini has upped his forecast the economy could head into a double-dip recession. And CNBC "Mad Money" host Jim Cramer is predicting mass panic in the markets after tomorrow's gross domestic product report tomorrow. So based on a lot of this, syndicated columnist Charles Krauthammer suggested that economic fears have returned to the public. He was asked by Fox News Channel's "Special Report" host Bret...
  • Cramer: 'Mass Panic' in Markets Tomorrow After 'Shocker' GDP Released

    08/26/2010 2:14:39 PM PDT · by Rufus2007 · 33 replies
    Newsbusters ^ | August 26, 2010 | Jeff Poor
    It is a curious phenomenon - the way the media have handled the economy since President Barack Obama has taken office. Generally the coverage has been on the optimistic side over the last 18 months. But could this blind optimism come back to haunt people that trade on economic metrics? According to CNBC "Mad Money" host Jim Cramer, it will and in a big way on Aug. 27, when the new gross domestic product numbers are released. On CNBC's Aug. 26 broadcast of "Street Signs," Cramer predicted dismal numbers during his "Stop Trading" segment, which has been contrary to the...
  • Newsweek's Clift: U.S. Won't Face Greek Debt Tragedy 'Because We Can Print Money'

    07/19/2010 7:33:48 AM PDT · by Rufus2007 · 36 replies
    Newsbusters ^ | July 19, 2010 | Jeff Poor
    We all probably knew the sentiment of the American left for just not getting the entire Tea Party movement concept, but this statement ought to cement that notion. On the July 18 broadcast of "The McLaughlin Group," host John McLaughlin asked his panelists what the long-term implications of national debt could be for the United States. "Is America in danger of the current debt crisis becoming a sovereign debt crisis as Mort [Zuckerman] mentioned, like the one that is now hitting Greece, yes or no?" McLaughlin asked. MSNBC political analyst Pat Buchanan warned it was more "imminent" than many people...
  • Dem Congressman: Dow Jones Will Plummet 1,000-2,000 if Financial Regulation Isn't Passed (Video)

    06/29/2010 1:48:33 PM PDT · by Rufus2007 · 54 replies · 1+ views
    businessandmedia.org ^ | June 29, 2010 | Jeff Poor
    Today’s plunge in the U.S. financial markets is a cause of concern for a lot of people – but according to Rep. Paul Kanjorski, D-Pa., we haven’t seen anything yet if congressional Democrats don’t get their way. Kanjorski was asked if by CNBC’s “Power Lunch” co-host Tyler Mathisen if financial regulation relied too much on regulators themselves and not the power of law, which Congress has the authority to enact. Kanjorski said he would have preferred a tougher bill. However, call it political expediency, especially as financial regulation legislation has an uncertain fate, but Kanjorski warned if Congress didn’t pass...
  • NBC's David Gregory: Obama Rhetoric 'Anti-Business,' 'Could Really Discourage Businesses' in U.S.

    06/18/2010 10:22:49 AM PDT · by Rufus2007 · 57 replies · 1,463+ views
    Newsbusters ^ | June 18, 2010 | Jeff Poor
    Wow, just wow. Never would have seen this one coming, but is one of the standard-bearers of the media elite recognizing the Obama administration's anti-business populist tone is inhibiting the U.S. economy? On the June 18 broadcast of CNBC's "Squawk Box," NBC "Meet the Press" moderator David Gregory was asked to respond to a June 18 New York Times article by David Sanger suggesting the Obama administration may be "overstepping" and discouraging business growth in the United States. Gregory told "Squawk Box" viewers that in his view they were and called it "a real problem." ...more (w/video)...
  • Stock Market Catastrophic Down Wave, Coming Economic Calamity Could Lead to a New World Order

    05/23/2010 4:21:53 PM PDT · by An Old Man · 90 replies · 3,197+ views
    The Market Oracle ^ | Mar 23, 2010 | Robert_McHugh_PhD
    Big picture: We believe stocks have entered catastrophic wave (C ) down, which should be the third and most devastating phase of the Grand Supercycle degree wave {IV} Bear Market. This decline has the potential to be a nation changing economic meltdown. So what does this mean? Permit us to give some educated speculative possibilities: It likely means there will be a political reaction to this meltdown like nothing we have ever seen before. You see how aggressive the Central Planners have been, closing the barn door after the horse has gotten out, spending at least $2 trillion that we...
  • Santelli Blames Financial Regulation Vote for Dow Drop: 'What Are They Doing in Washington?'

    05/20/2010 9:29:57 PM PDT · by Rufus2007 · 26 replies · 920+ views
    Newsbusters ^ | May 20, 2010 | Jeff Poor
    With the Dow Jones Industrial Average (DJIA) take another tumble of 376 points on May 20, some investors are pointing to problems in Europe for the sell-off. However, there may be problems at home as well. CNBC's CME Group floor reporter Rick Santelli explained on the May 20 broadcast of "Closing Bell" it had a lot to do with the Europe and the Euro, however it isn't all coming from abroad. "Well, a couple of things," Santelli said. Well, first of all, if you look at the high-grades, they widened out with the high-yields widened out more today at levels...
  • The Basic Math Behind Subprime Foreclosures

    05/14/2010 7:29:48 PM PDT · by An Old Man · 34 replies · 1,144+ views
    The Daily Reckoning ^ | 05/14/10 | Rocky Vega
    05/14/10 Geneva, Switzerland – The foreclosures that led to financial crisis began with homeowners falling behind on their mortgage payments. Yet, have all the factors behind the foreclosures been uncovered? To date, much of the blame has been assigned to predatory lenders. However, a new and strikingly simple finding explains another significant factor. The Atlanta Federal Reserve has recently released a paper that shows that the numerical skill of homeowners has a meaningful impact on the rate at which they fell behind on mortgage payments. According to The Economist: “The economists tracked down a large number of subprime borrowers in...
  • When in Doubt, Blame America … for the Greek Riots

    05/10/2010 1:07:19 PM PDT · by Rufus2007 · 3 replies · 230+ views
    The American Left doesn’t hate the country – they’re just outspoken about policies and therefore patriotic. That’s a canard often flaunted on left-wing Internet hangouts like the Daily Kos, the Huffington Post and Democratic Underground. Unfortunately there is a willingness to point the finger at ourselves from those on that end of the so-called ideological spectrum. ...more (w/video)...
  • Tea Party Movement Not Realizing U.S. is Bailing Out Greece, Says CNBC Host (Video)

    05/10/2010 1:01:51 PM PDT · by Rufus2007 · 23 replies · 991+ views
    Newsbusters ^ | May 10, 2010 | Jeff Poor
    The European Union and the International Monetary Fund to the rescue! The Dow Jones Industrial Average (DJIA) soars and investors breathe a sign of relief. But where's this $1 trillion in bailout funds for Greece coming from? On CNBC's May 10 "Squawk Box," host Joe Kernen channeled Rick Santelli's anti-bailout populism, suggesting it was important to note that this bailout was made possible in part by the American taxpayer. "On one thing, Rick - because you started the whole thing where you said, ‘Are you listening, President Obama?' about paying for your neighbor's mortgage," Kernen said. "Are you, could you...
  • Santelli: Greek Debt Crisis and Riots America’s 'Ghost of Christmas Future'

    05/07/2010 12:36:44 PM PDT · by Rufus2007 · 19 replies · 892+ views
    Newsbusters ^ | May 7, 2010 | Jeff Poor
    While international attention has been focused on Greece's debt crisis and the riots that have ensued over austerity measures, the possibility of the United States finding itself in the same situation is one to be considered a legitimate possibility says CNBC CME Group floor reporter Rick Santelli. On CNBC's May 7 "Squawk Box," host Joe Kernen pointed out the fear of contagion spreading throughout the world economy has been a focus, but asked Santelli if anything could be discerned from the Greek situation that would apply to the American economy. "Well, you remember the Christmas Carol?" Santelli said. "You know,...
  • CNBC's Bartiromo: 'That is Ridiculous. This Really Sounds Like Market Manipulation to Me'

    05/06/2010 3:03:01 PM PDT · by Rufus2007 · 35 replies · 1,951+ views
    Newsbusters ^ | May 6, 2010 | Jeff Poor
    While everyone is scratching their heads and trying to figure out how the Dow Jones Industrial Average (DJIA) lost nearly 1,000 points before rallying back to lose only 347 points - it appears not to be limited to just one stock. On CNBC's May 6 "Closing Bell," correspondent Matt Nesto explained that investigators for both the stock exchanges and for Citigroup, the firm that some are pointing fingers at for a so-called trader error, have narrowed it down to a futures index called the E-mini S&P 500. "A person familiar with the Citi investigation said one focus of the trading...
  • Maddow Goes Biblical: Rips Payday Lenders for 'Usury'; Says Gov’t Must Save U.S. from 400% Interest

    04/29/2010 9:53:40 AM PDT · by Rufus2007 · 30 replies · 586+ views
    Newsbusters ^ | April 29, 2010 | Jeff Poor
    It doesn't take a rocket scientist to realize that so-called payday loans probably aren't the most reasonable option when it comes to short-term borrowing. But according to MSNBC's Rachel Maddow, it takes the federal government to let you know. On her April 28 program, Maddow charged that these lenders engage in unscrupulous practices, despite offering a service that their clientele is willing to buy. "Last week we did our best to explain payday lenders - who they are and who they are, who they - what they do and who they are, excuse me," Maddow said. "Payday lenders are basically...
  • CNBC's Cramer Predicts Goldman to Get Record $2-3 Billion Fine, Management Possibly Let Go

    04/26/2010 12:48:36 PM PDT · by Rufus2007 · 17 replies · 694+ views
    Newsbusters ^ | April 26, 2010 | Jeff Poor
    While questions swirl about the ins and outs of the Securities and Exchange Commission charges against Goldman Sachs (NYSE:GS), and the eventual result is no clearer. According to CNBC "Mad Money" host Jim Cramer, after the release of several e-mails from Goldman traders, including Fabrice Tourre, who described the investments at the firm "like Frankenstein," the investment bank finds itself in an untenable position. Cramer told MSNBC's April 26 "Morning Joe" that Goldman really has no defense if, as the government alleges, Goldman misled investors when it established a mortgage-backed security in 2007 for a hedge fund client looking to...
  • Slate’s Anti-Wall Street Mob Populism: We Should Go After Them with Pitchforks, Knives, Guns, Clubs

    04/24/2010 8:28:43 PM PDT · by Rufus2007 · 9 replies · 728+ views
    Newsbusters ^ | April 24, 2010 | Jeff Poor
    Does anyone remember when the liberal intellectuals decried populism coming from the likes of Glenn Beck and other conservatives that was aimed at the direction the country is going under the leadership of President Barack Obama and the Democratic-controlled Congress? Throughout 2009, that so-called "bottom-barrel demagogy," as Troy Patterson called it in an post for Slate one year ago, was the focus of much consternation from the intellectual class that resides in the Northeastern U.S. corridor. One example was a critique of the Rick Santelli call that inspired the Tea Party movement, which John Dickerson called "impassioned, scattershot, and ultimately...
  • The Joe Scarborough Stimulus: $2 Trillion on Light-Rail and Energy Development

    04/21/2010 2:07:51 PM PDT · by Rufus2007 · 17 replies · 442+ views
    Newsbusters ^ | April 21, 2010 | Jeff Poor
    Remember that $787-billion stimulus passed last year, the one that was supposed to keep unemployment from hitting double digits by invigorating a new green economy? Well it hasn't exactly worked. Conventional wisdom would suggest not trying it again. Based on the nearly 10 percent unemployment, it's obvious Keynesian economic policies, where the government is a major force in an economy, don't work. However, MSNBC's "Morning Joe" host Joe Scarborough made the case for an even bigger trip down that route. "We talked about Sputnik at the event we did last year," Scarborough said on his April 21 program. "I wrote...
  • Brian Williams, Media Critic? Anchor Questions Newsweek's Headline 'America is Back'

    04/13/2010 7:10:50 AM PDT · by Rufus2007 · 10 replies · 533+ views
    Newsbusters ^ | April 13, 2010 | Jeff Poor
    After the Dow Jones Industrial Average (DJIA) cracked the 11,000 mark on April 12, some are asking if the economy is back. And while some want to credit President Barack Obama for this so-called recovery, is this financial market rally a true indicator of returning economic prosperity? The anchor of "NBC Nightly News" asked just that question, pointing out the cover of the April 19 issue of Newsweek magazine that pronounced "America's Back!" On his April 12 broadcast, Brian Williams asked CNBC's David Faber if it was a little premature to make that declaration. ...more (w/video)...
  • Current High Unemployment Rate to Remain Same 'Years From Now' Says Santelli (Video)

    04/12/2010 12:52:37 PM PDT · by Rufus2007 · 12 replies · 968+ views
    NewsBusters ^ | April 12, 2010 | Jeff Poor
    A little over a year ago, President Obama signed into law the $787-billion stimulus legislation that was supposed to prevent the unemployment rate from exceeding 8 percent. And although the unemployment has receded some from its high, it's still well North of 9 percent. So if that stimulus is given more time, will unemployment improve? Last week's jobless claims numbers, showing a stagnant unemployment rate of 9.7 percent, didn't provide any reason for optimism. And on CNBC's April 12 "Squawk Box," host Joe Kernen asked CNBC CME Group floor reporter Rick Santelli if this economic indicator is going to be...
  • Another Left-Wing Attack on CNN: Group Demands Network Not Air 'I.O.U.S.A.: Solutions'

    04/11/2010 12:00:26 PM PDT · by Rufus2007 · 9 replies · 897+ views
    Newsbusters ^ | April 11, 2010 | Jeff Poor
    The left wing seems to know no bounds in its efforts to ideologically cleanse CNN of any seemingly rational point-of-view when it comes to the issues of the day. Although liberal were successful in their effort to rid the network of Lou Dobbs, some elements are now hung up on also eliminating recently hired contributor Erick Erickson from CNN's programming. And now a liberal group called Campaign for America's Future (CAF) is attacking CNN for planning to air a documentary called "I.O.U.S.A.: Solutions," suggesting the network is "fanning the flames of deficit hysteria." The group's co-director Roger Hickey is demanding...
  • Prelude to a Media Victory Lap: Santelli Warns Not to Buy Hype of Upcoming Jobs Data

    03/29/2010 11:48:04 AM PDT · by Rufus2007 · 8 replies · 890+ views
    NewsBusters ^ | March 29, 2010 | Jeff Poor
    With March unemployment data to be released April 2, some are anticipating what potentially lower jobless numbers will all mean for the financial markets and the economy as a whole. However, that data will come with the caveat that it will be misleading because it will include temporary jobs driven by hiring for the 2010 census. On CNBC's March 29 "Squawk Box," CME floor reporter Rick Santelli was asked how to interpret the expected improvement. He warned it isn't the kind of job creation that is good for a sustained economic recovery. "You know, I think it's fascinating," Santelli said....
  • Coming Attractions: Rep. Paul Ryan Warns of a Top Marginal Tax Rate of 88% (Video)

    03/19/2010 1:42:11 PM PDT · by Rufus2007 · 28 replies · 1,021+ views
    Since the health care debate has swung into high gear, Republican Wisconsin congressman Rep. Paul Ryan stock has gone up as well, coming off as smart, intelligent and able to take the . He was Larry Kudlow’s CNBC program last night criticizing what health care reform would do to the deficit. But he said something else that really caught my ear. As he explained, based on projections from the so-called non-partisan Congressional Budget Office tax-rates will skyrocket with the wealthiest pay an astounding 88-percent rate within 30 years. [Transcript below video]
  • Study in Bias: Two Takes on Financial Regs -- Journal vs. NY Times as Pointed Out by CNBC’s Kernen

    03/15/2010 4:28:54 PM PDT · by Rufus2007 · 4 replies · 275+ views
    NewsBusters ^ | March 15, 2010 | Jeff Poor
    It's a topic that would probably make the average individual's eyes glaze over, but will have a profound impact on the economy - for better or worse. The topic - financial regulation reform. With Senate Banking Chairman Sen. Chris Dodd, D-Conn., setting his proposal out for the public, the take away on the reporting from two of the country's major newspapers - The New York Times and Wall Street Journal can give readers a view where their reporters' loyalties lie. On CNBC's March 15 "Squawk Box," co-host Joe Kernen raised this point - the Journal with its more pro-Wall Street...
  • VIDEO: Franken Bullies Comcast, NBC on Merger: 'I Don't Trust These Promises'

    02/04/2010 9:08:15 PM PST · by Rufus2007 · 16 replies · 581+ views
    NewsBusters ^ | February 4, 2010 | Jeff Poor
    After hearing the wit and wisdom of Sen. Al Franken, D-Minn., one has to wonder how modern media corporations could stay in business without the expertise and guidance of those elected to the U.S. Senate. Sarcasm aside, Franken did admit during a Feb. 4 hearing he didn't necessarily have legal expertise to address the Comcast-NBC Universal merger, but he could more than make up for that shortcoming through his experience in show business. Franken, a member of the Senate Judiciary Committee's Antitrust Subcommittee, explained he was bothered by the merger. "As some of you may know, I'm on the Judiciary...
  • CNBC's Santelli Brandishes Hammer to Illustrate Overreaching Obamanomics

    02/03/2010 8:50:36 AM PST · by Rufus2007 · 5 replies · 785+ views
    NewsBusters ^ | February 3, 2010 | Jeff Poor
    As the old cliché goes, you don't use a sledgehammer to crack a nut, but according to Rick Santelli, that's exactly what it appears the Obama administration is doing terms of financial regulation and fiscal discipline. On CNBC's Feb. 2 broadcast of "Fast Money," host Melissa Lee proposed that taxing the wealthy is not the path to "economic prosperity and fiscal stability." Santelli, the network's CME Group floor reporter, agreed. "Well, you're right," Santelli said. "But I also think you're going to see when the Bush tax cuts expire, a lot of middle class write-offs and exemptions and various tax...
  • Scarborough Shows Low Taxes = Low Unemployment in New Hampshire

    02/02/2010 1:52:06 PM PST · by Rufus2007 · 7 replies · 611+ views
    NewsBusters ^ | February 2, 2010 | Jeff Poor
    Want proof low taxes work? Just take a look at the state of New Hampshire, as MSNBC "Morning Joe" host Joe Scarborough astutely pointed out. On the Feb. 2 broadcast of his MSNBC program, Scarborough interviewed Sen. Jeanne Shaheen, D-N.H. Shaheen's home state was hosting a jobs town hall put on by President Barack Obama and Scarborough used the occasion for a teachable moment. "Now, usually none of us would celebrate unemployment rates of 7 percent," Scarborough said. "But that is not only well below the national average, but your neighbor, Rhode Island, to the south of you now sitting...
  • The bondage of debt

    12/20/2009 5:57:02 AM PST · by rabscuttle385 · 31 replies · 1,039+ views
    Renew America ^ | 2009-12-19 | Ken Connor
    The rich rules over the poor, And the borrower is the slave of the lender. (Proverbs 22:7 ESV)In the Old Testament book of Proverbs, King Solomon details the differences in thought, word, and deed between a wise man and a fool. In addressing the foolishness associated with borrowing money, he makes clear the relationship between debt and servitude: No man can truly be free when he is bound by financial indebtedness to another. It's clear, however, that the danger of debt is something a majority of the American people — including members of Congress and our President — have yet...
  • Seven U.S. banks closed by regulators; failures at 140 (FDIC Friday) (Obamanomics alert)

    12/20/2009 5:48:35 AM PST · by rabscuttle385 · 14 replies · 927+ views
    Dow Jones / Market Watch ^ | 2009-12-19 | John Letzing
    SAN FRANCISCO (MarketWatch) -- Seven U.S. banks were closed by regulators on Friday, bring the total this year to 140 as the effects of the credit crisis continued to be felt across the country. What's more, the Federal Deposit Insurance Corp. established temporary institutions to help close two of the failed banks.
  • Kudlow: Bernanke Should 'Consider Withdrawing' Without at Least 70 Confirmation Votes

    12/17/2009 6:49:40 PM PST · by Rufus2007 · 18 replies · 610+ views
    NewsBusters ^ | December 17, 2009 | Jeff Poor
    If you believe polls, current Federal Reserve Chairman Ben Bernanke favorability has been slipping. A recent Rasmussen Reports poll indicates that only 21 percent of Americans favor his reappointment as the Fed chair. And this hasn't gone unnoticed by some members of the Senate, where Bernanke's fate lies. Bernanke's reconfirmation passed through the Senate Banking Committee by a 16-to-7 vote on Dec. 17. But that margin calls into question how his reconfirmation vote on the Senate floor could go. And as CNBC "The Kudlow Report" host Larry Kudlow warned, that puts his reconfirmation in question. "Look, ‘Helicopter' Ben passed the...
  • CNBC's Santelli: High Tea Party Polling Data Good for U.S. Dollar

    12/17/2009 2:33:57 PM PST · by Rufus2007 · 4 replies · 485+ views
    NewsBusters ^ | December 17, 2009 | Jeff Poor
    It's often said markets function better when there is gridlock in Washington, D.C. because there's less of a chance for government will interfere in the private sector, creating a sense of security. But in this day and time, that theory applies to the U.S. dollar as well. On CNBC's Dec. 17 "Squawk Box," CNBC Chicago Mercantile Exchange reporter Rick Santelli debated what was causing the recent rise in the U.S. dollar. Santelli, the original inspiration for the tea party movement, squared off with Jim Iuorio, CNBC "OptionsAction" regular and CME trader, about the cause - a weakened European economy or...
  • Greenspan, Cramer Argue Government 'Agenda' Inhibiting Economic Recovery

    12/14/2009 5:29:52 AM PST · by Rufus2007 · 4 replies · 570+ views
    NewsBusters ^ | December 14, 2009 | Jeff Poor
    In his 1981 inaugural address, former President Ronald Reagan said, "Government is not the solution to our problems; government is the problem." Nearly 29 years later, that still holds true according to CNBC "Mad Money" host Jim Cramer and former Federal Reserve Chairman Alan Greenspan. Both Cramer and Greenspan were guests on NBC's Dec. 13 "Meet the Press" and although neither was making a vain effort to be nostalgic, but instead explained that Congress' deliberations over an "agenda" was creating uncertainty for business. "I think the priority ought to be get rid of the agenda," Cramer said. "I hear the...
  • Paul Krugman’s Media Critic Impersonation: Rips Fox Biz as 'Pro-Republican'

    11/12/2009 8:52:59 AM PST · by Rufus2007 · 19 replies · 666+ views
    Newsbusters ^ | November 12, 2009 | Jeff Poor
    We've come to expect intellectual dishonesty from the media elite, and Nobel Prize-winning economist Paul Krugman, columnist for the New York Times, never disappoints. Krugman, in a Nov. 11 post on his NYTimes.com blog titled "The agony of Fox Business," made it clear he was a subscriber to the left-wing fairy tale that Fox News, and by extension the Fox Business Channel, are not pro-business. Instead - they're "pro-Republican." "Clearly, the Fox Business crew is having a very hard time," Krugman wrote. "They bill themselves as being truly pro-business - not like those leftists at CNBC. But they aren't really...
  • Vintage Santelli: PelosiCare Threat to Recovery; Dow Climb Due to Unemployment

    11/06/2009 7:28:36 PM PST · by Rufus2007 · 4 replies · 649+ views
    NewsBusters ^ | November 6, 2009 | Jeff Poor
    A rising Dow Jones Industrial Average (DJIA) means better times are on the way, right? Not necessarily, according to CNBC CME floor reporter and tea party movement inspiration Rick Santelli. Santelli made an appearance on CNBC's Nov. 6 "Fast Money," a show which the host, Melissa Lee, is skittish about a discussion that politics interferes with the market is a reality. Nonetheless, Santelli explained there so happens to be correlation between a rise in unemployment rates and the rise in the Dow Jones Industrial Average. "[I] think we're building a stairway to heaven in Dow prices on the back of...
  • The Weak-Dollar Threat to Prosperity

    10/08/2009 9:23:57 AM PDT · by khnyny · 4 replies · 627+ views
    The Wall Street Journal ^ | October 7, 2009 | David Malpass
    If you want to know why the dollar has been falling this week and gold hit a new high, look no further than the weak jobs numbers last Friday and the weak communique issued over the weekend at the G-7 meeting in Istanbul. Deploring "excess volatility and disorderly movements in exchange rates" isn't exactly a ringing defense of the greenback. And 9.8% unemployment convinced markets that monetary policy will remain loose regardless of dollar weakness. Bond buyer Bill Gross of the Pimco fund summed up the situation nicely in a recent CNBC interview. Asked whether low interest rates will weaken...
  • ARAB STATES LAUNCH SECRET MOVES WITH CHINA, RUSSIA, FRANCE TO STOP USING DOLLAR FOR OIL TRADING

    10/05/2009 3:31:11 PM PDT · by edpc · 107 replies · 3,797+ views
    Drudge Report ^ | 5 October 2009 | Drudge
    ARAB STATES LAUNCH SECRET MOVES WITH CHINA, RUSSIA, FRANCE TO STOP USING DOLLAR FOR OIL TRADING... DEVELOPING...
  • Former Clintonista Reich Laughed At For Saying Stimulus 'Keeping People Employed'

    10/02/2009 10:37:46 AM PDT · by Rufus2007 · 14 replies · 1,398+ views
    NewsBusters ^ | October 2, 2009 | Noel Sheppard and Jeff Poor
    Former Clinton Labor Secretary Robert Reich was laughed at Friday for claiming "the stimulus package is the thing that is actually keeping the economy up, keeping people employed." In a discussion on CNBC about the larger than expected September job losses reported Friday by the Labor Department, Reich was explaining to hosts Melissa Francis and Lawrence Kudlow how things would be much worse if not for the stimulus package. He also implied that things won't get better until healthcare is reformed. ...more (w/video)...
  • Kooky Ignorance: Michael Moore Claims Wall Street Wants Intentionally High Unemployment

    09/24/2009 6:37:11 AM PDT · by Rufus2007 · 14 replies · 784+ views
    Newsbusters ^ | September 24, 2009 | Jeff Poor
    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 he thoughts on why the stock market has rallied off its lows, despite a rising unemployment. His reasoning - Wall Street like joblessness, because it's more for them. Moore outright told King Wall Street wants people unemployed. "It's crazy, isn't it?" Moore said. "I'll tell you why: Because your employees are your biggest expense. And, as...
  • Michael Moore Calls Capitalism 'Legalized Greed'; Serenades Leno Audience

    09/16/2009 7:25:14 AM PDT · by Rufus2007 · 51 replies · 1,395+ views
    Newsbusters ^ | September 16, 2009 | Jeff Poor
    Michael Moore, the man of many hats - documentary filmmaker, political scientist and now, singer. Moore has been making the rounds to promote his new movie, "Capitalism: A Love Story." On NBC's Sept. 15 "Jay Leno Show," Moore appeared and was asked what was wrong with capitalism. "Capitalism is actually legalized greed," Moore said. "There's nothing wrong with people earning money, starting a business, selling shoes. That's not what I'm talking about. We're at a point now Jay, in this country, where the richest 1 percent, the very top 1 percent have more financial wealth than the bottom 95 percent...
  • Matthews: Obama Not Getting Enough Love for Economic 'Comeback'

    08/26/2009 5:34:27 AM PDT · by Rufus2007 · 46 replies · 1,857+ views
    Newsbusters ^ | August 26, 2009 | Jeff Poor
    Try to keep a straight face when you hear this: President Barack Obama isn't getting enough media love. That's the world view of MSNBC "Hardball" host Chris Matthews - at least when it comes to the economy. According to Matthews, there has been a plethora of positive economic news - from a stock market that has shrugged off the threat of bad liberal policy, i.e. cap-and-trade or ObamaCare, to the actions of newly reappointed Federal Reserve Chairman Ben Bernanke of pumping liquidity into the economy. "What do you make of this whole thing about the good economic news out there...
  • Golden Parachute for NPR Executive? Try $1.3 Million

    08/14/2009 4:17:06 PM PDT · by Rufus2007 · 11 replies · 726+ views
    NewsBusters ^ | August 14, 2009 | Jeff Poor
    Remember the outrage earlier this year for some of the bonuses paid out to executives of financial institutions that were TARP recipient? Or how about the press coverage that spurred on populist outrage when it was reported former Merrill Lynch CEO John Thain spent $35,000 on a commode to redecorate his office? Turns out Thain walked away with a $1.5 million "golden parachute" after he resigned from Merrill, which was acquired by Bank of America (NYSE:BAC). But you would never guess who got a golden parachute that was pretty close to what Thain got. According to an Aug. 14 report...
  • CNBC Analyst Wary of Health Care Stocks; Knocks Obama's 'Hand-Picked Audience'

    08/11/2009 3:33:44 PM PDT · by Rufus2007 · 9 replies · 998+ views
    NewsBusters ^ | August 11, 2009 | Jeff Poor
    As the likelihood of President Barack Obama's style of health care/health insurance reform has looked more and more uncertain, health care sector stocks have rallied, nearly 10 percent over the last month. But now as Obama is showing some signs of managing his message and could be trying to make a comeback, even as polls show the odds aren't his favor, CNBC market analyst Steve Grasso is cautioning viewers to be wary of health care stocks for the time being. ...more (w/video)...