Author Archive
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The Audit
Audit Notes: The Swells at CNBC, Quote Stuffing, Austerity for Thee
September 2, 2010 08:32 PMBarry Ritholtz lays into CNBC this morning for one of those decidedly numbskulled views of the world so many of its journalists seem to have. In this case, they were going on about how awesome layoffs are. Three years... Continue reading
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The Audit
Barron’s Investigates the Shady Reverse-Merger Business
September 2, 2010 04:23 PMA hearty Audit huzzah to Barron's and reporters Bill Alpert and Leslie P. Norton for a superb investigation into Chinese companies that list in the U.S. stock markets by reverse merging into American shell companies. Sounds shady from the... Continue reading
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The Audit
Covering the Self-Serving Fuld Testimony
September 2, 2010 12:43 PMThe coverage of Dick Fuld's appearance before the Financial Crisis Inquiry Commission is somewhat uneven this morning. The Wall Street Journal's report, unfortunately, goes for the savvy angle: Playing up the political differences on the panel and how that... Continue reading
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The Audit
Audit Notes: Direct Democracy, Obama’s Caution as Achilles Heel, Japan
September 1, 2010 06:05 PMUp here in Seattle, The Stranger is doing a good job keeping an eye on how industry is flooding the state with money to pass a ballot initiative this fall. The state is in budget crisis, like most others,... Continue reading
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The Audit
A Times Must-Read on the News Corp. Hacking Scandal
September 1, 2010 04:05 PMThe New York Times Magazine is out with a riveting story on the corruption at News Corporation's News International division. It's a fascinating look at the depravity and cynicism of the British tabloid press and of the British government.... Continue reading
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The Audit
The Press in the Reality Distortion Field
September 1, 2010 11:15 AMIt's Apple day. Which means it's time for the press to forget completely about its normal standards and wade neck-deep into rumors and rank speculation. The Los Angeles Times dives in this morning with a story headlined "Rumors swirl as... Continue reading
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The Audit
Audit Notes: The System, Gamed, Carried Interest, Deseret
August 31, 2010 09:19 PMMichael Hudson, who's got a book out in a few weeks on how predatory-lending fed the financial bubble, responds to Chrystia Freeland's New York Times Book Review piece (which mentioned Audit Honcho Dean Starkman—see his post on that... Continue reading
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The Audit
Timesmen Type Up Intel CEO’s Excuses on Jobs
August 31, 2010 06:25 PMThere's no need for me to reiterate what others like Dean Baker, Yves Smith, and Andrew Leonard have already written about Andrew Ross Sorkin's column today on why Wall Street has turned on Obama (which is hardly... Continue reading
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The Audit
A Poor FT Page-One Pay Story
August 31, 2010 11:38 AMBoy, sometimes it's just flat out hard to figure the Financial Times—a smart newspaper that not infrequently does dumb things, usually in the name of "scoops" or "exclusives." This morning it leads its page one with a thin and... Continue reading
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The Audit
Audit Notes: Our Glass Jaw, Financial Crises, Extend and Pretend
August 30, 2010 10:42 PMIf you're looking for a single anecdote to sum up the demise of the American economy, you could do worse than The Wall Street Journal's excellent front-page story this morning on glass and Toledo. The paper's James T. Areddy... Continue reading
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The Audit
Two Can Play That Game, Rupert
August 30, 2010 05:09 PMRupert Murdoch has de-emphasized business coverage in The Wall Street Journal since buying the paper in 2007, something that The Audit, focused as we are on the business press, has criticized quite a bit. The tell on Murdoch's intentions came... Continue reading
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The Audit
The Times Retargets the Zappos Ads Story
August 30, 2010 12:50 PMThe New York Times steps onto the online privacy beat this morning (the one put on the front burner recently by The Wall Street Journal) with a story on how sites are using their knowledge of what you've shopped... Continue reading
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The Audit
Audit Notes: Goldman and Geithner, Meaningless WSJ Numbers, Freeland
August 20, 2010 06:59 PMThe New York Times runs a pretty amusing story on Tim Geithner's Goldman past—you know, the one he never had. Just as the Geithner aide’s humor fell flat, likewise newspaper corrections, Mr. Geithner’s objections to TV news interviewers and... Continue reading
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The Audit
Bill O’Reilly’s Stock Tips
August 20, 2010 01:04 PMKathy Kristof nails Bill O'Reilly for lending his mug and voice to a cockamamie investment newsletter touted by right-wing news outlet Newsmax. Alas, in America a sucker is born every minute, apparently foolish enough to buy investment advice from... Continue reading
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The Audit
Today in Let Them Eat Cake
August 19, 2010 06:32 PMWhat critically important new trends are sweeping the overclass now in our angry, unemployed, bankrupt, two-war country? The New York Times zooms in on: bigass aquariums costing six figures. Or as the Times calls them: "Fantasy fish tanks." “Not... Continue reading
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The Audit
The Too-Modest Times
August 19, 2010 01:34 PMSometimes newspapers are just too modest. Like The New York Times today. The SEC sued New Jersey for fraud for lying about how much money it was socking away to pay for pensions. We don't find out till the third-to-last... Continue reading
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The Audit
Audit Notes: Unemployment and Suicide, China Trade, Greece Simmers
August 18, 2010 09:22 PMAnnie Lowrey has a must-read story in The Washington Independent on unemployment and suicide. She digs up some stories of suicides and near-suicides and reports that, as you'd suspect, studies find evidence that joblessness coincides with an increased risk.... Continue reading
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The Audit
A Paper-Thin FT Page-One Story on Outsourcing
August 18, 2010 08:28 PMRarely will you see a front page story as thin as this one, and if you do it will probably also be in the Financial Times. It goes above the fold on page one today... Continue reading
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The Audit
Murrow, Cronkite, Slideshows
August 18, 2010 06:06 PMAhh, CBS News. Illustrious home of Edward R. Murrow, Walter Cronkite, Daniel Schorr, George Polk, Eric Sevareid. The Tiffany Network. 60 Minutes. Serious. Sober. Murrow on the Blitz: Continue reading
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The Audit
Blame the Borrowers, Part 1,429
August 18, 2010 12:42 PMReuters Breakingviews would like you to know that crazed borrowers are responsible for the housing crisis—or at least a good part of it—and it proposes a few ways to keep these low-lifes from getting mortgage companies to give them... Continue reading
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