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Columbia Journalism Review content tagged Bloomberg News

1. March 9, 2012 02:42 PM

   200 Years of Citi

   An alternate history

   By Ryan Chittum

   Bloomberg's Christine Harper, on Twitter, notes that Citigroup's corporate timeline, launched in a must-have new iPad app called Citi News, has an odd sense of news judgment: Citi `timeline' of its 200-year history has ``launches mobile phone banking service'' as the key 2008 event I guess they forgot about that $45 billion taxpayer bailout to stave off the catastrophic bankruptcy...

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2. June 28, 2011 02:25 PM

   A Bloomberg Investigation Exposes Cisco’s Tax Hypocrisy

   CEO pushes for a repatration holiday while working hard to move profits overseas

   By Ryan Chittum

   Cisco's billionaire CEO John Chambers has led the recent campaign to let multinationals repatriate their overseas profits to the U.S. at an 85 percent discount. So it's particularly awesome that Bloomberg News has an investigation today showing how Chambers and Cisco have gamed the tax system to park $32 billion in profits in low-tax countries. We have several stories rolled...

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3. April 6, 2011 02:16 PM

   A Little Healthy Outrage on Executive Pay

   By Ryan Chittum

   Roger Lowenstein had an excellent Bloomberg column a couple of weeks ago on outlandish executive compensation. Unfortunately, it got one of those bad Bloomberg headlines, so you might not have read it: Think About Sin When Bonuses Are Revealed Yes, father. Unfortunately, this isn't one of those Bloomberg headlines that are so bad they're kind of good. Like: Marijuana-Like High...

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4. November 1, 2012 06:50 AM

   A muddy Bloomberg story sets up Romney’s Jeep attack

   The wire's poorly worded story is misread

   By Ryan Chittum

   Mitt Romney's gotten in hot water with the nation's burgeoning horde of fact checkers by asserting that Jeep "is thinking of moving all production to China." That's clearly false. Chrysler is considering adding Jeep production over there, not closing up shop here and outsourcing everything to China. But Romney preceded his claim by saying he'd "seen a story" that told...

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5. November 29, 2011 11:54 PM

   Audit Notes: WSJ’s Facebook Non-News, Bogus Bloomberg, Tabloid Id

   By Ryan Chittum

   Fortune's Dan Primack calls out The Wall Street Journal for hyping non-news on page one that Facebook is going to launch an IPO in the spring for somewhere near $100 billion. Yesterday the Wall Street Journal got a huge amount of attention for reporting that Facebook is preparing to go public next year in an IPO that could value the...

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6. April 15, 2011 04:21 PM

   Audit Notes: AP Spill, Reporting on Your Parent, Bloomberg Babies

   By Ryan Chittum

   This Associated Press story had me scratching my head. It says Citgo spilled 265,000 barrels of oil in the Delaware River in 2004—the third-biggest oil spill in U.S. history. The judge cleared Citgo of liability in the third-largest oil spill in U.S. waters, which occurred when the single-hull Greek tanker struck a rusty anchor long submerged in the riverbed. Nearly...

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7. May 26, 2011 07:54 PM

   Audit Notes: Bloomberg Blues, Weil Audits Goldman’s Board, Does Not Compute

   By Ryan Chittum

   Slate's Jack Shafer shreds Bloomberg View, the new Bloomberg editorial page. He writes, "I'd rather go blind than look at a world made whole through the Bloomberg View," with its ideology emulating that of the heroic cult leader Mayor Mike, whose "political values are as unmappable as a hooker's love." Nice. This is good stuff, too: Among the columnists' first...

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8. December 15, 2011 06:46 PM

   Audit Notes: Bloomberg Empire Edition

   By Ryan Chittum

   Reuters's Jack Shafer writes that Bloomberg BusinessWeek has become the best magazine in the country, his "primary source of long-form, print journalism": Who would have thought that “Bloomberg” and “BusinessWeek,” the two most plodding names in the history of journalism, could merge to create a superb general interest magazine? I’m not saying that every issue is a treat, but nearly...

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9. September 14, 2012 06:50 AM

   Audit Notes: Bloomberg eyes CMBS, newspaper optimism, Weil on bank books

   Signs of froth return to commercial real estate lending

   By Ryan Chittum

   Bloomberg News is good to keep an eye on the securitization market for early signs of froth. It reports that mortgage-backed securities in commercial real estate are raising red flags again: Buyers are gravitating toward the debt even as lenders include risker loans in new offerings. Citigroup and Goldman Sachs sold about $1 billion of securities that include a $100...

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10. March 31, 2011 07:57 PM

    Audit Notes: Bloomberg on the Fed, OCC Meddles for Banks, Who Runs the World

    By Ryan Chittum

    Bloomberg News is flooding the zone on the Fed's discount-window document dump, which the central bank had to disclose after Bloomberg sued it and won. Here are a few of its stories so far: Goldman Sachs Borrowed From Fed Window Five Times That contradicts testimony from CFO Gary Cohn, who also borrowed out of patriotic duty (emphasis mine): Goldman Sachs...

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11. September 15, 2011 07:36 PM

    Audit Notes: Bloomberg’s Euphemisms, ETFs and CDOs, TechCrunch and Goldman

    By Ryan Chittum

    It's sort of darkly amusing to read all the euphemisms in this Bloomberg News story reporting on the latest warnings signs of a possible collapse of the European financial system. It points out "deposit flight," an "erosion," an "outflow of money," "reduced deposits," an "outflow of deposits," and says that money-market funds have "cut investments in Spanish and Italian lenders...

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12. April 16, 2012 07:49 PM

    Audit Notes: Carr on Amazon, Muni Broadband, Too Big to Fail

    By Ryan Chittum

    David Carr's New York Times column today on Amazon, Apple, and the book publishers is excellent. He calls the Department of Justice's antitrust suit "the modern equivalent of taking on Standard Oil but breaking up Ed’s Gas ’N’ Groceries on Route 19 instead": But pull back a few thousand feet and take a broader look at the interests of consumers....

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13. February 3, 2012 12:29 AM

    Audit Notes: CDO Charges, Facebook’s Board, Deficits

    By Ryan Chittum

    Sure enough, the Justice Department charged former Credit Suisse CDO executive Kareem Serageldin with fraud for allegedly artificially inflating CDO values. Two of his underlings pleaded guilty and say Serageldin orchestrated the scheme. The NYT: The government’s case against the former Credit Suisse traders depicts a brazen scheme to artificially increase the price of bonds on their books to create...

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14. December 14, 2011 06:16 PM

    Audit Notes: CDS Watch, Murdoch’s Email, Fracking and Quaking

    By Ryan Chittum

    The Wall Street Journal has a good look at how European banks have been busy writing hundreds of billions of dollars worth of credit-default swaps on PIIIGS sovereign debt: The numbers show European banks have sold a total of €178 billion ($238 billion) worth of insurance policies, in the form of financial derivatives known as credit-default swaps, on bonds issued...

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15. November 4, 2011 07:38 PM

    Audit Notes: Citi’s Slaps, College Is Cheap, Voicemail Interception Compensation Scheme

    By Ryan Chittum

    Bloomberg's Jonathan Weil has an excellent, tough column on the latest settlement between Citigroup and the SEC, which shows how "Citigroup Finds Obeying the Law Is Too Darn Hard": Five times since 2003 the Securities and Exchange Commission has accused Citigroup Inc. (C)’s main broker-dealer subsidiary of securities fraud. On each occasion the company’s SEC settlements have followed a familiar...

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16. July 6, 2012 06:50 AM

    Audit Notes: Dark Ages, Mitt and Rupert, Chesapeake’s taxes

    Stephen Moore on how "the greens" supposedly want to plunge America into darkness

    By Ryan Chittum

    The Wall Street Journal editorial page's Stephen Moore uses the power outage in DC as a warning about what life would be like if "the greens" seize power. Environmentalists, you see, aren't just opposed to pollution and catastrophic climate effects from carbon emissions. According to Moore, they're all but opposed to electricity, however clean: Electrical power is the central nervous...

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17. April 1, 2011 07:48 PM

    Audit Notes: Forced Fed, Bank Wages, Schroeder on Buffett

    By Ryan Chittum

    The press continues to rifle through the Fed's discount window data dump, finding that Some 70 percent of all loans made through the program went to foreign banks. Bloomberg reports on details revealed about the toxic collateral the Fed took in exchange for its billions in loans through a separate bailout program, the Primary Dealer Credit Facility: At the height...

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18. March 7, 2012 01:29 AM

    Audit Notes: Fox on Energy, Journalists and Programmers, Bloomberg

    By Ryan Chittum

    Media Matters has an amusing compilation of Fox News reactions to $4 a gallon gasoline in 2008, when George W. Bush was in office, and its reactions today, when Barack Obama is. 2008: 2012: Back then, gas prices were based on global supply and demand issues at Fox, but now you'd think Obama single-handedly fixes prices. It's incredibly dishonest to...

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19. March 4, 2011 06:33 PM

    Audit Notes: Fox on the Overpaid, Winkler Smiles, FT Ads

    By Ryan Chittum

    The Fox News propaganda machine has been ramped up to portray $700 a week teachers and other government employees as overpaid, violent, journalist-hating wastrels milking the public dry while letting the Chinese beat our progeny at math. Leave it to Jon Stewart to point out how this contrasts with how some of the same mouthpieces Fox News treated the multimillionaires...

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20. November 7, 2012 06:50 AM

    Audit Notes: FT denies Bloomberg report, Drudge stats, financialization

    Misleading with bogus statistics

    By Ryan Chittum

    Bloomberg News reports that Pearson is considering putting the Financial Times up for sale, as Michael Wolff predicted a month ago. Pearson Plc is planning to explore a sale of the Financial Times newspaper as the company focuses on its faster-growing education business, people with knowledge of the situation said. The company has decided to consider offers for the newspaper...

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