Author Archive
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The Audit
The Prosaic Mosaic Theory
November 30, 2010 12:25 PMThe New York Times is trying to play catchup with The Wall Street Journal, which has dominated the hedge-fund investigation story. I don't think the WSJ is hearing footsteps just yet. The Times section-fronts a story reporting that more... Continue reading
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The Audit
Audit Notes: Up Next For Wikileaks: The Banks, Forbes, Gaming Google
November 29, 2010 07:19 PMJulian Assange is Forbes's cover boy this week. No surprise there. He just turned the diplomatic community on its head with a mass release of U.S. secrets. But it's not your typical man-in-the-news profile. Andy Greenberg sits down with... Continue reading
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The Audit
Corporate Welfare Rocks!
November 29, 2010 04:10 PMThe Wall Street Journal reports that government activism is good... when it benefits Big Business. It's a puff piece about how Utah's corporate-welfare policies are boosting its economy. Here's the headline: Incentives Spur Utah's Growth State's Red-Carpet Treatment Toward... Continue reading
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The Audit
NYT on the Irish Mess
November 29, 2010 11:16 AMThis New York Times lede from Friday is terrific, conveying as it does the Bizarro world of the Irish bailout: Cut Ireland’s minimum wage? Check. Collect more in property taxes from beleaguered homeowners? Check. Raise the corporate tax... Continue reading
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The Audit
Big Wheel Keep on Turnin’
November 24, 2010 03:09 PMAudit boss Dean Starkman wrote a CJR cover story a couple of months ago called "The Hamster Wheel," decrying journalistic "motion for motion’s sake... news panic, a lack of discipline, an inability to say no." Haven't read it yet?... Continue reading
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The Audit
Audit Notes: Hypocrisy on Warren, Just… Why?, Congress’ Net Worth Soars
November 24, 2010 12:33 AMFormer Timesman Peter S. Goodman is out of the gates fast over at The Huffington Post. He points out the hypocrisy of Republicans calling for investigations of Elizabeth Warren and her setting up of the Consumer Financial Protection Bureau.... Continue reading
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The Audit
Quick Facts on the China Trade
November 23, 2010 07:53 PMCNBC's Becky Quick tosses off a dud over at Fortune, telling us all to "Stop the Beijing bashing!" because the "The health of the U.S. economy depends on trade with China." The people appearing in the pages of Fortune... Continue reading
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The Audit
The Ultimate Mortgage Fraud Anecdote
November 23, 2010 01:31 PMThe Miami Herald has found the perfect anecdote for the foreclosure scandal, the mortgage crisis, and how both are two sides of the same coin. It's a stunning story about how a woman refinanced her home to get $50,000,... Continue reading
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The Audit
Audit Notes: Countrywide, WSJ Stays Ahead on Probe, Blodget
November 22, 2010 07:59 PMAll the biz/econobloggers are going gaga over a nugget of information buried deep in Gretchen Morgenson's column yesterday. Consider a lawsuit in the United States Bankruptcy Court in Camden, N.J. It involves a Countrywide loan and... Continue reading
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The Audit
All But Ignoring the Fed’s Call for More Stimulus
November 22, 2010 12:51 PMLast week, Ben Bernanke, Federal Reserve chairman, Republican, Bush appointee, calm technocrat, called for more fiscal stimulus (government spending and/or tax cuts) now to boost a flailing economy. Big story, huh? Not in the press, which will write a slew... Continue reading
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The Audit
Audit Notes: WSJ Scoop, SAC’s Golf Guy, Two Old Guys Flailing
November 19, 2010 11:53 PMThe Wall Street Journal has a big scoop out this evening, reporting that the federal government is winding up a huge, three-year investigation into widespread insider trading, "criminal and civil probes (that) authorities say could eclipse the impact on... Continue reading
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The Audit
Unemployment Benefits as Search Engine Bait
November 19, 2010 06:23 PMWhen I think of SEO (search engine optimization), silly slide shows and headlines about Lindsey Lohan come to mind. But unemployment benefits? This morning I criticized the play The New York Times and Washington Post gave news that House... Continue reading
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The Audit
Covering the Unemployment Benefits Extension Vote
November 19, 2010 11:37 AM(UPDATE: Thanks for the comments, all. All I can say is I hope things turn around for you—soon. I've quoted some of your comments in a new post on how the first one showed how much appetite there is... Continue reading
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The Audit
The Former Car Czar Kicks Back on CNBC
November 18, 2010 07:24 PMIt's probably not the best idea to let somebody in the news for bribing public officals guest-host your news show. Which CNBC presumably understands after this morning. The network let former Obama administration senior official and private-equity dude (and way... Continue reading
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The Audit
The Chamber of Commerce, Front for Hated Industries
November 18, 2010 05:21 PMBloomberg gets a great scoop on the Chamber of Commerce, reporting that the health-insurance industry gave the secretive nonprofit a stunning $86.2 million last year to oppose Obama's health-care reform. The Chamber, as we've seen, isn't required... Continue reading
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The Audit
Deflation Warning Signs, Mostly Buried in the Press
November 18, 2010 01:09 PMCore inflation hit a record low last month, a warning sign that the economy could be heading toward Japan-style deflation. How do the papers play it? Does it jibe with my impression, as I noted the other day, that... Continue reading
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The Audit
Audit Notes: Catching Up With Wall Street, Princess Dresses, Olbermann and Objectivity
November 17, 2010 06:21 PMThe New York Observer's Max Abelson takes a look at the Wall Street people who nearly crashed the world. Where are they now? Mostly still on Wall Street; many in the same jobs. Howzat? Abelson ledes with this eye-raising... Continue reading
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The Audit
The FT Talks to the Little Guy
November 17, 2010 04:03 PMThis isn't a particularly great story by the Financial Times, but I'm going to applaud it anyway, because it shows the paper doing something it all too rarely does: Putting a human face on the economy. All too often... Continue reading
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The Audit
A Particularly Weak WSJ Page One
November 17, 2010 10:37 AMBoy, this morning's Wall Street Journal page one leaves a lot to be desired. First, there's this story: States Offer Washington Lesson in Belt Tightening The headline implies—and the entire story accepts as gospel—the conventional wisdom that Washington... Continue reading
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The Audit
Audit Notes: ProPub vs. BofA, Wall Street in the White House, Short-Armed
November 16, 2010 08:02 PMI love to see the press just flat-out say somebody's full of it. ProPublica's Karen Weise does that today, calling out a Bank of America executive for testifying before Congress that it can't modify more mortgages because investors won't... Continue reading
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