Author Archive
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The Audit
A Critical Witness in the Wall Street Sausage Factory
September 27, 2010 11:52 AMChalk this one up to things I'm not smart enough to understand: Why isn't this pure-D fraud and why hasn't someone paid for it? The New York Times's Gretchen Morgenson reports today that Clayton Holdings, which ought to be... Continue reading
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The Audit
Audit Notes: Free Trade Fallout, China’s Peg, Bailout Failure
September 24, 2010 06:49 PMThe Financial Times's Washington bureau chief Edward Luce—who if you ask me, is one of the sharpest Washington observers around these days—discussing Larry Summers departure: Put simply, they see him as the face of a paradigm that has outlived... Continue reading
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The Audit
D’Souza Again; This Time in the Chronicle
September 24, 2010 04:15 PMDinesh D'Souza is at it again. This time he's taken his the-president-is-evil book-touting act on the road—to San Francisco, of all places. It's beyond me why the San Francisco Chronicle would print such garbage, especially in the <a... Continue reading
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The Audit
Reporting the Economy in Orange County
September 24, 2010 09:53 AMTake a look at some of the things the Orange County Register is doing with its economic reporting. Here's a blog called "Handling Hard Times" that's kind of a one-stop shop for news about the battered local economy.... Continue reading
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The Audit
Audit Notes: Forbes Dissent, MBS Fight, Incestuous CDOs
September 23, 2010 07:49 PMI ripped Forbes last week for putting Dinesh D'Souza's pile of awfulness on the front page of its magazine (and for comparing Obama to Vlad Lenin). And while there's no excuse for that, I will applaud Forbes... Continue reading
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The Audit
Goldman Loves This WSJ Headline
September 23, 2010 12:55 PMFelix Salmon is all over The Wall Street Journal this morning for splashing this story across four columns atop page one: "SEC Blasted on Goldman." First, as he points out, the SEC wasn't really "blasted." Its inspector general,... Continue reading
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The Audit
The FT Goes Yachting. Meanwhile…
September 22, 2010 07:40 PMThere is no denying that 2009 was an annus horribilis for the yacht industry, or that the first half of 2010 was almost as rough. The Onion? No, it's the Financial Times, leading off its Yachting special section with... Continue reading
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The Audit
Arrington and the Journal on Venture Capital
September 22, 2010 03:33 PMThe Wall Street Journal reports this morning that venture-capital investors are bidding up the values of Internet startups to bubble-era levels and that "Some investors worry the lofty numbers signal that froth has returned to the Web sector."... Continue reading
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The Audit
The Observer on the Roots of Wall Street’s Obama Rage
September 22, 2010 12:51 PMMax Abelson has a fun story in The New York Observer on the roots of Obama rage on Wall Street. It's not that he's done anything to them. He really hasn't. He's just talked mean a time or two.... Continue reading
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The Audit
Audit Notes: WSJ Editorial Misleads, That Flack, Respawning
September 21, 2010 06:11 PMThe Wall Street Journal editorial page—surprise, surprise!—posts a misleading piece on the anemic recovery (emphasis mine): White House economists and liberals say the financial roots of this recession have made the recovery unusually difficult, the fiscal stimulus saved the... Continue reading
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The Audit
WSJ Misses on Stimulus Red Tape
September 21, 2010 01:32 PMThe Wall Street Journal's A1 story today on how bureacratic red tape has slowed the stimulus has a pretty big hole in it, and that's too bad. It could have been better. Here it is: But when Obama administration... Continue reading
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The Audit
Audit Notes: That’s Rich, Krugman; Munger; Dancing Around Income Inequality
September 20, 2010 07:19 PMInstaputz points out some real lack of self-awareness in Paul Krugman's column today attacking the rage of the rich: You see, the rich are different from you and me: they have more influence. It’s partly a matter of... Continue reading
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The Audit
Bloomberg BusinessWeek’s Slim Bloom Profile
September 20, 2010 06:29 PMI'm a fan of the new BusinessWeek, which was already the best of the three major financial magazines—though that's not necessarily saying much. I like what Bloomberg's done with the joint. BusinessWeek is a better magazine these days.... Continue reading
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The Audit
The Recession May Be Over, But the Jobs Crisis Isn’t
September 20, 2010 12:45 PMThere's some good reporting on the nation's unemployment crisis on A1 of the major papers today. We always like to see that. It's the big story right now and will be for a long time. The New... Continue reading
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The Audit
Audit Notes: Forbes Compares Obama to Lenin, Racist BS, Some Sanity
September 17, 2010 09:39 PMHow did that kooky, insidious, false Dinesh D'Souza piece end up on the cover of Forbes? Take a look at the boss man. Not content to smear the president for supposedly being an anti-American beholden to the... Continue reading
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The Audit
Public Service Journalism at Its Very Best
September 17, 2010 04:50 PMUp here in Seattle, we've been blessed with some incredible newspaper reporting this week. The kind that makes you glad to be a journalist. The Seattle Times has published the latest installments of a massive investigation by reporter Michael J.... Continue reading
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The Audit
The WSJ Is Good on Middle-Class Incomes
September 17, 2010 10:54 AMI got on The Wall Street Journal the other day for, among other things, ignoring income stagnation and inequality in a front-page piece. So some props are in order today for splashing a good story on a... Continue reading
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The Audit
Audit Notes: Marketplace Filleted, Window Dressing, Scotland Yard
September 16, 2010 07:31 PMJay Rosen just takes the fillet knife to public radio's "Marketplace Morning Report." The problem with this report is that it cannot decide if it wants to be the audible Wall Street Journal or Adam Smith for Dummies, a... Continue reading
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The Audit
Dinesh D’Souza Digs Himself in Deeper
September 16, 2010 01:48 PMDinesh D'Souza has responded to my, uh, criticism of his smear piece that, shamefully, made the cover of Forbes with its claims that Obama is directed by a "Kenyan, anticolonial" worldview (as Newt Gingrich succinctly summarized it)... Continue reading
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The Audit
The Elizabeth Warren End-Around
September 16, 2010 11:17 AMWell, surprise, surprise. President Obama ducks another fight by naming consumer advocate Elizabeth Warren as "special adviser" to set up the Consumer Financial Protection Bureau, which was her idea. The coverage this morning is pretty muddy, but that's not the... Continue reading
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