The roundtable on Sunday's Meet the Press (2/1/09) sure didn't look promising: Republican flat tax enthusiast Steve Forbes, former McCain economic adviser Mark Zandi and CNBC reporter Erin Burnett. It was Burnett, though, whodeliveredahead-scratching defense of the$18 billionbonusesrecently doled out atWall Street firms (many of which are still standing thanks only to the government's multi-billion dollar TARP bailout). As Burnett explained, the populist anger was misplaced (see bold): BURNETT: I understand the outrage, and you understand the populism. There are, though–well, how should we say this? The taxpayer money is not being used to pay the bonuses. I think people [...]
Discussing the failed auto bailout on CBS Evening News (12/12/08): KATIE COURIC: And it's almost, meanwhile, turning to Washington, Bob, impossible to figure out just what happened to this auto bailout in the Senate. There's all this finger pointing going on. What is your take? Can you explain it to us in simple terms? BOB SCHIEFFER: I think frankly what happened, Katie, is that this is overwhelmingly unpopular, bailing out these auto companies with the public in general. And every poll suggests that. These leaders of the auto industry came to town first in their jet planes and now you [...]
The corporate media has more or less been on the same page in applauding Obama's cabinet picks so far–"He's been pragmatic in choosing pragmatists," as the Washington Post editorial page cheered on November 28. There's been occasional criticism of Obama's choices as being too progressive, as when the L.A. Times (12/5/08) attacked the idea of Rep. Xavier Bercerra as U.S. trade representative, declaring that Obama "should break his promises and appoint a free-trader as trade representative." So it was refreshing to see Michael Hirsh's piece in Newsweek wondering why left-leaning Columbia economist Joseph Stiglitz hasn't been in the mix: But [...]
FAIR has a new Action Alert up about ABC's gross exaggeration of auto worker compensation. Feel free to post messages sent to ABC here–or any responses you get from the network.
Here's the New York Times (11/24/08), reporting the Citigroup bailout: In tense, round-the-clock negotiations that stretched until almost midnight on Sunday, it became clear that the crisis of confidence had to be defused now or the financial markets could plunge further. Note the absence of any source here–that's reporter Eric Dash, with the authority of the Times behind him, declaring that it was "clear that the crisis of confidence had to be defused now." This is a striking departure from the paper's typical style, in which assertions are generally sourced to somebody–if only to "officials." The absence of the usual [...]