MainStreet

'Today' Slams Citi for Trying to Switch from Bonuses to Salary Hikes

admin — Wed, 24 Jun 2009 20:10:24 +0000

Julia A. Seymour

Catherine Maggio

Just last year the government claimed bailouts of major banks like CitiGroup were necessary to prevent economic collapse. But now that banks are turning a profit NBC is returning to attacks on pay.

A June 24 segment of “Today” attacked CitiGroup’s “internal discussions” to raise salaries (by 50 percent in some cases) and other major banks with footage from the 1987 movie “Wall Street,” AIG protest footage and an unemployed Michigan woman.

CBS Features Left-Wing Activist Group in Rate Cut Coverage

admin — Thu, 30 Oct 2008 13:37:48 +0000

Jeff Poor

On Oct. 29, the Federal Reserve cut the Fed funds rate target to 1 percent – a level not seen since 2003 – in an effort to make lending flow more freely. But “CBS Evening News” went a different direction with its coverage of the rate cut.

Unlike the other two broadcast network newscasts, which focused their coverage that evening on the financial markets, CBS featured a liberal activist group protesting Fannie Mae, the failed government-sponsored enterprise behind much of the mortgage crisis.

Media Endorse $700 Billion Economic 'Rescue'

admin — Wed, 08 Oct 2008 19:13:14 +0000

Julia A. Seymour

The financial system has been the damsel in distress of the U.S. economy for weeks, and according to the media only one hero could save her: the government and its $700 billion “rescue package.”

O'Donnell Calls Senate Bailout Bill a Decorated 'Christmas Tree'

admin — Wed, 01 Oct 2008 21:23:07 +0000

Jeff Poor

It’s rare, but occasionally a journalist actually questions over-the-top government spending.

ABC Reports: Good News from Wall Street!

admin — Thu, 17 Jul 2008 19:05:12 +0000

Kelly Brown

ABC’s “Good Morning America” actually reported upbeat signs in the economy.

Following a graphic that read, “Good news on Wall Street? Will better earnings lift economy?” reporter Bianna Golodryga started the morning off July 17 with a stock preview.

“Now, right now we are looking at a higher open on the heels of that better-than-expected earnings report out of JPMorgan Chase,” she said. “Now while they did announce a $1-billion write down, their earnings came in better than expected.”

Media Pit 'Main Street' Against Wall Street

admin — Wed, 02 Apr 2008 20:25:17 +0000

Jeff Poor

After the Federal Reserve engineered JPMorgan Chase’s (NYSE:JPM) takeover of beleaguered investment bank Bear Stearns (NYSE:BSC), some media outlets portrayed the act as the government bailing out Wall Street while ignoring the problems on Main Street.

Media Scrooges: 'Bah, Humbug' To Wall Street's Christmas Bonuses

admin — Wed, 20 Dec 2006 19:17:34 +0000

Noel Sheppard

When Santa came to Wall Street this year, the media cried and pouted.

With the Dow Jones Industrial Average at an all-time high and commodities markets experiencing one of their best years in decades, Wall Street firms were feeling especially merry this year. The media responded as if they had seen Jacob Marley’s ghost.