Sunday, November 23, 2014. Last Update: Fri 2:45 PM EST

The Audit

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Audit Notes: bad banks edition

Too big to behave or to fail

Gretchen Morgenson writes about how the interest-rate swaps Wall Street encouraged government agencies to take out are costing governments billions... More

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Owens’s straw man army

A commentator takes 10 swings at paywalls, and misses each time

Howard Owens's 5,200 word CJR riposte to David Simon on paywalls deserve a reply of its own (outside of its... More

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CNBC graphic of the day, Greek bond yield edition

Martin Wolf, the anti-CNBC, makes an appearance

Martin Wolf appeared on CNBC today, which is never a good idea. Between all the swishing noises and flashing... More

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Audit Notes: Decline of Labor Edition

Unions, inequality, and billionaires versus organized workers

The New Yorker's John Cassidy writes a smart post on the aftermath of labor's big defeat in Wisconsin and what... More

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The Disingenuous WSJ Opinion Pages

Bogus arguments from Phil Gramm, Glenn Hubbard, and Peggy Noonan

Phil Gramm and Columbia B-school Dean and Romney economic adviser Glenn Hubbard take to the op-ed pages of The Wall... More

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Audit Notes: Whither The Guardian, Blodget breathes fire, CNBC flop

The New Statesman profiles editor Alan Rusbridger

This long New Statesman profile of Guardian editor Alan Rusbridger, which also delves into the financial woes of his paper,... More

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The Seattle Times sinks a local polluter

Investigating the sketchy background of a capsized ship’s owner

Most business investigations focus on corporations and investors. And for good reason: They're the ones with the money and the... More

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Audit Notes: Amazon turns on the A/C, Fairfax’s taxes, Ponzify

The Morning Call's Spencer Soper follows up on his Amazon sweatshop investigation, and reports that the company has since spent... More

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Audit Notes: that 1930s feeling, Facebook small fry, Carter’s Grove

Martin Wolf’s hair is on fire

Martin Wolf's hair is on fire in the Financial Times: Suppose that in June 2007 you had been told that... More

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David Cay Johnston’s excellent corporate-welfare column

What a proposed mall project illustrates about subsidizing developers

Reuters's David Cay Johnston has a great column on corporate welfare that mixes reporting and analysis to show why subsidies... More

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Audit Notes: seaside villas, paywall past, Citi fraud

Line of the day goes to Bloomberg News for this gem from Robert Benmosche, CEO of government-owned AIG (emphasis mine):... More

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Bank of America’s Merrill scandal reignites

The NYT reports former CEO Ken Lewis admits shareholders got bad information

The New York Times's Gretchen Morgenson has a big story today on how Bank of America fooled shareholders into approving... More

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Responding to Shirky on the Washington Post

Transformation is required, and transformation takes investment

Thanks to Clay Shirky for responding to my piece on the financialization of the Washington Post Company, which during the... More

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Audit Notes: the rise of circulation, LAT’s Facebook trend, mobile ads

This Ken Doctor piece on how circulation is becoming the most-important revenue stream at newspapers is a must-read: Unexpectedly, newspapers... More

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Amazon’s California tax squeeze

A WSJ follow story waters down an LAT scoop from two weeks ago

Amazon's long run of not paying collecting state and local sales taxes is coming to an end as legislatures finally... More

Why won’t journalists ask Bill Cosby the tough questions? - Sexual assault charges are hardly ever mentioned to the TV star

Knoxville’s alt-weekly wasn’t losing money. It got shut down anyway - Scripps pulls the plug on Metro Pulse in favor of an entertainment supplement for the local daily

Chuck Todd’s Obama book says more about the author than it does about the president - ‘The Stranger’ underscores a broader problem with the way we cover politics

Beware labeling Pope Francis a liberal - Political boxes like liberal/conservative and evolutionist/creationist miss his real significance

The Virginian-Pilot produces a breakthrough investigation amid layoffs - Reporter John Holland discusses how the story came together, newsroom cutbacks, and colleagues who cover for each other


Which media outlets use ‘illegal immigrant’? (Fusion)

“[I]n spite of all the good reasons not to use the phrase, it is still very easy to find in the US press, even in headlines”

Jack Shafer on losing his job (Capital New York)

“Right now, my immediate plan is to go to work as a lay therapist at The Intercept to bring the healing there so John Cook and Matt Taibbi can return. I have great interpersonal skills.”

On outlets that continue to call unknown drone victims ‘militants’ (The Intercept)

“Like the US drone program itself, this deceitful media practice continues unabated”

UNITY’s convention is no more (All Digitocracy)

“The organization’s board of directors decided that UNITY will no longer host the quadrennial conferences for which it had become known”

Bloggingheads

Greg Marx discusses democracy and news with Tom Rosenstiel of the American Press Institute

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