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Wednesday, March 18, 2009

Judge Says Cuomo May Name Merrill Bonus Recipients (Update3) - Bloomberg.com

Judge Says Cuomo May Name Merrill Bonus Recipients (Update3) - Bloomberg.com

Merrill Lynch & Co. employees who received $3.6 billion in bonuses in December may be publicly identified as part of New York Attorney General Andrew Cuomo’s probe of the company, a New York judge ruled.

What do AIG bonuses have to do with health care and cap-and-trade?

Media Matters - What do AIG bonuses have to do with health care and cap-and-trade?: "Several media outlets have asserted that AIG's payment of controversial employee-retention bonus packages could squelch or impede President Obama's ability to promote his policy agenda. Most of those reporting the claim failed to elaborate on how disclosure of the bonuses could impede Obama's ability to pass aspects of his agenda such as health-care reform and climate change policy.Several media outlets have asserted that AIG's payment of controversial employee-retention bonus packages could squelch or impede President Obama's ability to promote his policy agenda. Most of those reporting the claim failed to elaborate on how disclosure of the bonuses could impede Obama's ability to pass aspects of his agenda such as health-care reform and climate change policy."

Time cites NRSC attack on Dodd over AIG bonuses without noting that several GOP senators reportedly opposed executive pay restrictions

Media Matters - Time cites NRSC attack on Dodd over AIG bonuses without noting that several GOP senators reportedly opposed executive pay restrictions: "Time's Jay Newton-Small asserted that Sen. Chris Dodd's proposal for a 100 percent tax on AIG bonuses, 'may have been overcompensation, so to speak, on Dodd's part,' adding, 'The National Republican Senatorial Committee was quick to point out that Dodd had amended the stimulus plan to make a specific 'exception for contractually obligated bonuses agreed on before Feb. 11, 2009.' ' But Newton-Small did not point out in response to the NRSC's attack on Dodd that several Republican senators reportedly said in February they oppose any government restrictions on executive compensation.Time's Jay Newton-Small asserted that Sen. Chris Dodd's proposal for a 100 percent tax on AIG bonuses, 'may have been overcompensation, so to speak, on Dodd's part,' adding, 'The National Republican Senatorial Committee was quick to point out that Dodd had amended the stimulus plan to make a specific 'exception for contractually obligated bonuses agreed on before Feb. 11, 2009.' ' But Newton-Small did not point out in response to the NRSC's attack on Dodd that several Republican senators reportedly said in February they oppose any government restrictions on executive compensation."

Media Matters - USA Today , LA Times continue to omit Bush Treasury's role in AIG bonus controversy

Media Matters - USA Today , LA Times continue to omit Bush Treasury's role in AIG bonus controversy: "USA Today and the Los Angeles Times reported Republican criticism of the Obama administration over AIG's employee bonus packages but did not point out that it was the Bush Treasury Department that worked with the Federal Reserve in carrying out last year's bailouts and bought AIG stock notwithstanding the existence of these bonus contracts.USA Today and the Los Angeles Times reported Republican criticism of the Obama administration over AIG's employee bonus packages but did not point out that it was the Bush Treasury Department that worked with the Federal Reserve in carrying out last year's bailouts and bought AIG stock notwithstanding the existence of these bonus contracts."

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CHICAGOBUSINESS

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Daily Business Briefing

CRAIN'S LISTS SEND LETTERS TO THE EDITOR MULTIMEDIA WEEKLY JOB CHANGES

TOP HEADLINES Wednesday, March 18, 2009

· Higher taxes, fees in Quinn's budget proposal

· Liddy asks AIG workers to return some bonus money

· Cubs likely to remain with Tribune until mid-May

· Trader Joe's plans Lincoln Park store

· Walgreen buys 32 New Jersey drugstores

· Hines, Blair kill deal for proposed tower

· Exelon sued by takeover target

· Blagojevich taps ex-IRS man to oversee campaign fund

· Money dispute hangs over Chicago 2016 bid

· Tokyo's 2016 bid gets full government backing

· Old Second Bancorp cuts dividend 75%

· ADM lost auction based on bid offer 

· Outrage, cheers for Quinn's budget: Hinz blog

· 'Journalists' from Chicago schools: Taking Names blog

· Sports contracts; Comcast & NFL Network: Biz of Sports blog 

Final Markets

Dow Jones

7,486.58

+90.88

+1.23%

NASDAQ

1,491.22

+29.11

+1.99%

Crain's Index

58.66

+1.43

+2.49%

» View Other Top Headlines

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Prestigious Chicago Area Entrepreneurship Hall of Fame Dinner will induct new members and present the Lifetime Achievement award to Doris Christopher, Founder of The Pampered Chef, March 19 at Chicago Hilton and Towers. For tickets/info: 312-413-3278. CLICK HERE.

OTHER HEADLINES

· Fed to buy $1 trillion in securities to aid economy New York Times

· Sanchez took jobs for campaign work: prosecutor ABC 7

· IBM in talks to buy Sun Microsystems: report CNN Money

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Ignoring Bush Treasury role, Politico reported that Republicans "feel they have a free shot at the Democrats" over AIG

Media Matters - Ignoring Bush Treasury role, Politico reported that Republicans "feel they have a free shot at the Democrats" over AIG

The Politico uncritically quoted top congressional Republicans criticizing the Obama administration over AIG bonuses, reporting that "[h]aving mostly opposed Obama's stimulus plan, the second half of the Troubled Asset Relief Program (TARP) funds and the omnibus spending bill, Republicans feel they have a free shot at the Democrats for anything that goes wrong now." The article did not point out that it was the Bush Treasury Department that worked with the Federal Reserve in carrying out last year's bailouts and bought AIG stocks notwithstanding the existence of these bonus contracts.

Limbaugh defends AIG from "lynch mob"

Media Matters - Limbaugh defends AIG from "lynch mob"

In recent days, Rush Limbaugh has defended AIG from a "lynch mob ... demanding heads" over the company's controversial employee retention bonuses.

Business, financial, personal finance news - CNNMoney.com

Business, financial, personal finance news - CNNMoney.com: "In bailout nation, AIG has become the company everyone loves to hate. On Capitol Hill on Wednesday, CEO Edward Liddy will hear all about it."

Washington knew AIG was preparing to pay bonuses

Washington knew AIG was preparing to pay bonuses: "Cue the outrage. For months, the Obama administration and members of Congress have known that insurance giant AIG was getting ready to pay huge bonuses while living off government bailouts. It wasn't until the money was flowing and news was trickling out to the public that official Washington rose up in anger and vowed to yank the money back.
Why the sudden furor, just weeks after Barack Obama's team paid out $30 billion in additional aid to the company? So far, the administration has been unable to match its actions to Obama's tough rhetoric on executive compensation. And Congress has been unable or unwilling to restrict bonuses for bailout recipients, despite some lawmakers' repeated efforts to do so."

Tuesday, March 17, 2009

Media Matters Daily Summary




Media Matters for America
Here are today's news items from Media Matters for America, click on the title or 'read more' to read the entirety of each story.
Suggesting "your house will be worth more burned down," Doocy peddled itemized deduction falsehood
Fox & Friends' Steve Doocy falsely asserted that President Obama has proposed eliminating the ability of high-income taxpayers to take income tax deductions for their home mortgages. In fact, Obama has not proposed eliminating income tax deductions for any taxpayers; rather, a provision in Obama's budget proposal would, beginning in fiscal year 2011, reduce the tax rate at which families earning more than $250,000 per year can take itemized deductions to 28 percent. Read More
Hannity falsely claimed that under Pelosi, Republicans "can't offer amendments"
Fox News' Sean Hannity falsely claimed that under House Speaker Nancy Pelosi, "Republicans can't offer amendments; they can't offer alternative bills." In fact, in the 111th Congress, the House has voted on several Republican-sponsored amendments to various bills. Read More
CNN's Gergen forwarded small business falsehood
David Gergen forwarded the false Republican talking point that "a lot of small-business people, you know, pay taxes as high-income taxpayers. They're in the $250,000-plus. So, there are a number of them who felt like they're going to be facing crushing taxes." In fact, according to data from the Tax Policy Center, only about 2 percent of families reporting small-business income in their 2007 tax returns are in the top two income tax brackets, which include those expected to pay more in federal income taxes under president Obama's proposal Read More
The Hill repeats baseless claim that small businesses will have to provide health insurance under Obama
A Hill article asserted that "[s]mall businesses are also worried about an Obama healthcare proposal that could require small firms to provide health insurance to their workers." However, during the presidential campaign, then-Sen. Barack Obama proposed requiring large businesses that do not provide employer-sponsored health coverage to pay a percentage of their payroll into a National Health Insurance Exchange but stated that small businesses would be exempt. Read More
NY Times disappears Bush Treasury Department from article on AIG bonuses
In an article about the Obama administration's "effort to undo bonuses at A.I.G.," The New York Times reported, "The Treasury and Federal Reserve officials said they had known about the bonus program as far back as last fall." But at no point in the article did the Times note that the Treasury Department at the time was then-President Bush's Treasury Department. Indeed, the article did not mention Bush or his Treasury Secretary Hank Paulson at all, much less report that the Bush Treasury Department worked with the Federal Reserve in carrying out last year's bailouts and bought AIG stocks notwithstanding the existence of these bonus contracts.
Read More
Fox, Drudge falsely assert Dodd put "bonus protections" into stimulus bill
A FoxBusiness.com article reporting on an amendment that Sen. Chris Dodd added to the recovery bill featured the false headline -- subsequently posted by the Drudge Report -- "Amid AIG Furor, Dodd Tries to Undo Bonus Protections He Put In." Additionally, Fox News' Trace Gallagher falsely claimed that Dodd "created a loophole that allowed AIG to give out these bonuses." Rush Limbaugh also falsely asserted that Dodd's amendment provided an "exemption from any limits on" contractual bonuses agreed to before February 11. In fact, Dodd's amendment actually limited bonuses; it did not add "protection" for bonuses or "create a loophole" without which the bonuses could not be paid. Read More
Stephanopoulos ignored McCain's reversal on AIG bailout during Twitter interview
In a post describing his interview with Sen. John McCain on Twitter, George Stephanopoulos uncritically reprinted McCain's claim during the interview that he "would have never bailed out AIG." Stephanopoulos did not note that while McCain originally stated in September 2008 that he opposed a federal bailout of AIG, McCain later stated that he supported it. Read More
Beck falsely asserted that U.S. does not fingerprint foreign visitors or collect rapists' DNA
On Fox News, Glenn Beck asserted that "[w]e can't fingerprint anybody who's coming into this country because that would be offensive" and that "[w]e can't take DNA samples from killers or rapists, but you can have your fingerprint taken if you want to sell your house." In fact, the Department of Homeland Security does take fingerprints from "aliens seeking admission to the United States" at U.S. entry points, and according to the National Conference of State Legislatures, "All 50 states require that convicted sex offenders provide a DNA sample." Read More
Media ignore Bush Treasury Department role in last year's AIG bailouts, notwithstanding bonus packages
In numerous instances, media reporting on AIG's employee retention bonus packages did not point out that it was the Bush Treasury Department that worked with the Federal Reserve in carrying out last year's bailouts and bought AIG stocks notwithstanding the existence of these bonus contracts. Read More
You can help support our work; become a volunteer media monitor, or donate to Media Matters for America.
 

Livid Democrats demand AIG return bailout bonuses

Livid Democrats demand AIG return bailout bonuses

Talking tougher by the hour, livid Democrats confronted beleaguered insurance giant AIG with an ultimatum Tuesday: Give back $165 million in post-bailout bonuses or watch Congress tax it away with emergency legislation. Republicans declared the Democrats were hardly blameless, accusing them of standing by while the bonus deal was cemented and suggesting that Treasury Secretary Timothy Geithner could and should have done more. While the White House expressed confidence in Geithner, it was clearly placing the responsibility for how the matter was handled on his shoulders.

SCA webinar




 

Justice Center

March 17, 2009
Reminder: Second Chance Act Webinar
The Council of State Governments Justice Center is conducting a free webinar to help potential applicants respond to the Second Chance Act Section 101 solicitation for state and local reentry demonstration projectsThe webinar, supported by the Public Welfare Foundation, the Annie E. Casey Foundation, and the Joyce Foundation will be held on March 19, 2009 at 2:00 P.M. Eastern Time.

Click here to view the full announcement.

The Council of State Governments Justice Center is a national nonprofit organization that serves policymakers at the local, state, and federal levels from all branches of government. It provides practical, nonpartisan advice and consensus-driven strategies-informed by available evidence-to increase public safety and strengthen communities. For more resources on reentry, please visit the Justice Center Reentry Policy Council website-http://www.reentrypolicy.org/.

 

 

 

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Crain's Daily News Alert prepared for Top Executives



CHICAGOBUSINESS

— POWERED BY CRAIN'S —

Daily Business Briefing

CRAIN'S LISTS SEND LETTERS TO THE EDITOR MULTIMEDIA WEEKLY JOB CHANGES

TOP HEADLINES Tuesday, March 17, 2009

· Guv. Quinn floats sales tax holiday in 'bold' budget plan

· Caterpillar to cut 1,726 at 2 Illinois plants

· Abbott CEO's compensation tops $25M

· Resurrection Health Care cuts 125 jobs to pare losses

· Sara Lee to put stock repurchases on hold

· Dow closes up nearly 179 points

· Boeing pulls tarp off stealthier fighter plane

· CME gives foreign exchange second look

· McDonald's opens virtual store in China

· ADM in bidding war for ethanol company

· Feds review $20B Boeing defense contract

· Sears looks for new loan backers: report 

· Daley's TIF honey pot needs lid: Greg Hinz blog

· Obamas bring bit o'Chicago to Irish celebration: Taking Names blog

· Sox sponsors; Webio adds Huebner: Biz of Sports blog 

Final Markets

Dow Jones

7,395.70

+178.73

+2.48%

NASDAQ

1,462.11

+58.09

+4.14%

Crain's Index

57.23

+2.43

+4.43%

» View Other Top Headlines

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Prestigious Chicago Area Entrepreneurship Hall of Fame Dinner will induct new members and present the Lifetime Achievement award to Doris Christopher, Founder of The Pampered Chef, March 19 at Chicago Hilton and Towers. For tickets/info: 312-413-3278. CLICK HERE.

OTHER HEADLINES

· Group gets permit for Chicago Olympics protest ABC 7

· Vrdolyak removed from Ill. attorneys list Daily Herald

· AIG paid 73 bonuses of $1M or more: NY AG Crain's New York

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Tell CNBC the economy is not a game...




Media Matters March 17, 2009
Dear Fred,
Last week, Jon Stewart, host of Comedy Central's The Daily Show, took Jim Cramer and CNBC to task. As Stewart told Cramer, "You knew what the banks were doing, and yet were touting it for months and months. The entire network was." Stewart's showdown with Cramer was entertaining and thought-provoking television to say the least. It clearly demonstrated the need for CNBC to commit to making real, lasting change. That is why we need your help.
Yesterday, I joined several prominent writers, journalism professors, economists, media critics, and progressive leaders in signing a letter demanding that CNBC take substantial steps toward fixing its broken network. Among many others, the letter was signed by co-director of the Center for Economic and Policy Research Dean Baker, Columbia University journalism professor Todd Gitlin, president of the Economic Policy Institute Lawrence Mishel, economist at the Institute for Research on Labor and Employment Sylvia Allegretto, and senior economist at the Center for American Progress Heather Boushey.
By joining in our call for change at CNBC today, you can send a powerful message to the nation's premier financial news network.
Rather than fulfill its crucial role as a journalistic outlet seeking the truth, CNBC instead abdicated its responsibility to the American people in favor of years of uncritical repetition of spin by Wall Street CEOs. This denied the public accurate information about the causes of the current economic crisis, its consequences, and the effectiveness of proposed solutions.
CNBC should publicly declare a drastic change of direction, committing to responsible journalism in an effort to hold Wall Street accountable in the future. As a first step, it should bring new economic voices on the air with a focus on those who were right about this crisis in the first place.
The stakes are too high for CNBC to continue acting as the unofficial mouthpiece of Wall Street. This is not a game. Together we can bring about the much-needed change we seek. That is why it is so important that you sign this petition today and then encourage your friends, family and co-workers to do the same.
Thank you for your continued support.
Eric Burns
President
Media Matters for America
P.S. Don't forget to enlist your friends, family, and co-workers in this fight to change CNBC. Be sure to contact them and ask that they sign the petition as well.
Sources:
 
© 2009 Media Matters for America
1625 Massachusetts Ave, NW, Suite 300, Washington, D.C. 20036

Road to Rescue: The CNN Survival Guide: News & Videos about Road to Rescue: The CNN Survival Guide - CNN.com

Road to Rescue: The CNN Survival Guide: News & Videos about Road to Rescue: The CNN Survival Guide - CNN.com

AIG massive payments to banks stoke bailout rage - Forbes.com

AIG massive payments to banks stoke bailout rage - Forbes.com

The Hill repeats baseless claim that small businesses will have to provide health insurance under Obama

Media Matters - The Hill repeats baseless claim that small businesses will have to provide health insurance under Obama

A Hill article asserted that "[s]mall businesses are also worried about an Obama healthcare proposal that could require small firms to provide health insurance to their workers." However, during the presidential campaign, then-Sen. Barack Obama proposed requiring large businesses that do not provide employer-sponsored health coverage to pay a percentage of their payroll into a National Health Insurance Exchange but stated that small businesses would be exempt.

Congress threatens to tax AIG executives' bonuses

Congress threatens to tax AIG executives' bonuses

Congressional Democrats vowed Tuesday to all but strip AIG executives of their $165 million in bonuses as expressions of outrage swelled in Congress over eye-catching extra income for employees of a firm that has received billions in taxpayer bailout funds.

Hannity falsely claimed that under Pelosi, Republicans "can't offer amendments"

Media Matters - Hannity falsely claimed that under Pelosi, Republicans "can't offer amendments"

Fox News' Sean Hannity falsely claimed that under House Speaker Nancy Pelosi, "Republicans can't offer amendments; they can't offer alternative bills." In fact, in the 111th Congress, the House has voted on several Republican-sponsored amendments to various bills.

Suggesting "your house will be worth more burned down," Doocy peddled itemized deduction falsehood

Media Matters - Suggesting "your house will be worth more burned down," Doocy peddled itemized deduction falsehood

Fox & Friends' Steve Doocy falsely asserted that President Obama has proposed eliminating the ability of high-income taxpayers to take income tax deductions for their home mortgages. In fact, Obama has not proposed eliminating income tax deductions for any taxpayers; rather, a provision in Obama's budget proposal would, beginning in fiscal year 2011, reduce the tax rate at which families earning more than $250,000 per year can take itemized deductions to 28 percent.

25 top-paying companies - Bingham McCutchen (1) - FORTUNE

25 top-paying companies - Bingham McCutchen (1) - FORTUNE

Associates at Bingham McCutchen take home an average $256,312 total compensation annually. See which other Best Companies to Work For offer big paychecks.

They're hiring! - Edward Jones (1) - FORTUNE

They're hiring! - Edward Jones (1) - FORTUNE

As many big companies are announcing mass layoffs, these 20 top employers have at least 350 openings each right now. Which Best Companies to Work For are doing the most recruiting and what kind of candidates are they looking for?

Monday, March 16, 2009

Media Matters Daily Summary




Media Matters for America
Here are today's news items from Media Matters for America, click on the title or 'read more' to read the entirety of each story.
Politico, AP forward GOP small business falsehood
The Politico and the AP forwarded the false Republican talking point that President Obama's proposals to let the Bush tax cuts for wealthy taxpayers expire and reduce the tax rate at which wealthy taxpayers could take itemized deductions would increase taxes on a large percentage of small businesses. In fact, according to the Tax Policy Center, just 2 percent of tax returns that reported small business income in 2007 are in the top two income tax brackets, which include all filers with taxable incomes that would be affected. Read More
NY Times uncritically quoted Cheney saying Bush administration detention policies were "done legally"
In a New York Times article, A.G. Sulzberger quoted without challenge Dick Cheney's assertion that Bush administration policies on detentions and intelligence gathering were "done legally" and "in accordance with our constitutional practices and principles." Sulzberger did not note that the Supreme Court has repeatedly rejected Bush administration policies regarding detentions, that the Justice Department has withdrawn Bush administration memoranda authorizing interrogation practices, and that the International Committee of the Red Cross has reportedly determined that interrogation practices used during President Bush's tenure in office amounted to torture. Read More
Wash. Times uncritically reprints NRO columnist calling released detainee an "al Qaeda jihadist"
The Washington Times reprinted part of a National Review Online column that claimed that former Guantánamo Bay detainee Binyam Mohammed is "the al Qaeda jihadist who was planning to carry out mass-murder attacks in American cities, who is now free and clear to live and plot in Londonistan." However, the Times did not note that the Justice Department withdrew charges against Mohammed of plotting to commit terrorist attacks and subsequently transferred Mohammed to the U.K. Read More
Fox News presents deceptively cropped six-month-old Biden clip as new
Fox News' Martha MacCallum claimed that "after weeks of economic doom and gloom, the Obama administration is now singing a slightly different tune. Take a look at what was said in recent interviews this weekend." Fox News then aired clips of administration officials purportedly giving an optimistic view of the economy, which included video of Joe Biden stating: "The fundamentals of the economy are strong." However, Biden did not make those remarks during an "interview[]" over the past weekend; he made those remarks at a September 2008 campaign event in which he criticized statements by John McCain. Read More
Media repeatedly declare that Obama's "honeymoon" is "over" -- but the cliché lives on
A Media Matters analysis found that since the day after President Obama's inauguration, broadcast and cable news figures have been stating that Obama's "honeymoon" is "over" or questioning whether it is, rendering the cliché all but meaningless. During this period, media figures have suggested Obama's "honeymoon" is "over" with respect to "some ... die-hard Republicans," the media, African-Americans, Cuban President Fidel Castro, "Republican critics of his economic recovery plan," and economists. Read More
You can help support our work; become a volunteer media monitor, or donate to Media Matters for America.
 

Cuomo to probe AIG bonuses for possible fraud

Cuomo to probe AIG bonuses for possible fraud

New York Attorney General Andrew Cuomo said Monday he has issued subpoenas for the names of American International Group employees given millions of dollars in bonuses despite their possible roles in the insurance giant's near-collapse.

Cuomo said his office will investigate whether the $165 million in payments are fraudulent under state law because they were promised when the company knew it wouldn't have the money to cover them. AIG reported this month that it lost $61.7 billion in the fourth quarter of last year, the largest corporate loss in history, and it has benefited from more than $170 billion in a federal rescue.

Sunday, March 15, 2009

Media Matters Daily Summary




Media Matters for America
Here are today's news items from Media Matters for America, click on the title or 'read more' to read the entirety of each story.
Wash. Post article on anti-Clinton film glosses over filmmaker's controversial past
Writing about the Citizens United-produced film Hillary: The Movie, The Washington Post identified the group's president, David Bossie, only as "a former congressional aide whose battles with the Clinton administration are legendary." But that description is inadequate; the Post did not note that Bossie was reportedly fired as a congressional staffer in 1998 for his role in releasing misleadingly edited transcripts that gave the false impression former Clinton administration official Webster Hubbell had implicated then-first lady Hillary Clinton in wrongdoing. Read More
CNN's King asked Cheney several leading questions, inviting him to hammer Obama
Interviewing former Vice President Dick Cheney, CNN's John King asked Cheney several leading questions, most premised on conservative or Republican talking points, that provided Cheney ample opportunities to attack President Obama. For instance, King asked Cheney whether he "believe[s] the president of the United States has made Americans less safe" by reversing several Bush administration's national security policies and whether he agrees with "the conservative weekly Human Events" that Obama is "trying to brazenly deceive the American people." Read More
Wash. Post opinion page asked congressional Republicans -- but not Dems -- "whether federal budget earmarks are defensible"
No Democratic members of Congress were quoted in a Washington Post opinion article asking "members of Congress and others whether federal budget earmarks are defensible"; the three members of Congress whose responses were listed are all Republicans. This is consistent with a pattern in the media of portraying earmarks as a practice unique to Democrats. Read More
Forbes on Fox's Asman falsely claimed Obama "once pledged to ban all earmarks"
On Forbes on Fox, host David Asman falsely claimed that President Barack Obama "once pledged to ban all earmarks." In fact, Obama promised to reform the earmark process and cut wasteful spending, not eliminate earmarks altogether. Read More
Tucker Carlson presented faulty timeline as purported evidence Stewart's criticism of Cramer "was a partisan attack"
On Reliable Sources, Tucker Carlson asserted regarding Jon Stewart's recent criticism of CNBC's Jim Cramer: "This was a partisan attack. He went after -- he went after Cramer the moment Cramer criticized [President] Obama's budget. That was the mortal sin. That's what kicked off this entire feud." Carlson made a similar claim to the Politico. In fact, Stewart criticized Cramer at least as far back as March 17, 2008, for claiming that investment firm Bear Stearns was "not in trouble" less than a week before the company collapsed. Read More
CNN's John King did not challenge Cheney's false claim that "chairmen" Frank, Dodd were "stone wall" to Fannie/Freddie reform
On CNN's State of the Union, host John King did not challenge former Vice President Dick Cheney's false claim that the Bush administration tried "to impose reforms on Fannie Mae and Freddie Mac, and we ran into a stone wall on Capitol Hill in the form of the chairmen and -- of the Banking Committee in the House and the Senate, Barney Frank and Chris Dodd." In fact, Frank and Dodd were not "chairmen" until 2007, after which time Congress passed oversight legislation of Fannie and Freddie. Read More
You can help support our work; become a volunteer media monitor, or donate to Media Matters for America.