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Can't Forget the Fat Cats!
From a CNBC interview this morning with Sen. Mary Landrieu (D-LA):
LANDRIEU: A lot of fat cats have gotten a lot of money. We want to get some of these little Main Street cats getting some money down in our part of the town. And that's what we want to do.REPORTER: Senator Landrieu, we all love Main Street cats. But there's a role for fat cats, too. Let's not punish successful entrepreneurs.
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Brian
CNBC cracks me up. The reporters there really have internalized the world view of the people they cover -- I-bankers, traders, top analysts -- and their parochial viewpoint of "what's good for morgan stanley is what's good for america." It's particularly funny in light of the way that reporters at other outlets (incl. the WSJ!) strive for some degree of detachment and objectivity.
February 2, 2009 12:59 PM | Reply | Permalink
Oh Lord...don't get me started
Paul Kangas PBS ..I watch just for the entertainment value
The financial press has been little more than a giant infomercial for Wall Street for years
February 2, 2009 1:06 PM | Reply | Permalink
Erin Burnett went on Meet the Press yesterday to criticize President Obama, Geithner, and Ben Bernanke for not making it more obvious to the American public how deep this financial crisis was.
Did David Gregory challenge her with information about how the economy is by far and away the #1 concern of American voters?
Of course he didn't!
I simply turned it off.
February 2, 2009 1:20 PM | Reply | Permalink
You were right to turn it off; she is unwatchable. Hearing her discuss how the American public is uninformed about the role of bonuses where the grown ups work... Tone deaf. Nobody reminds these people that these companies failed. As John Stewart says, "They don't have 'best people.'"
February 2, 2009 3:39 PM | Reply | Permalink
I first read that as "what's good for the moran Stanley" (as in 'get a brain moran').
Seems more appropriate.
February 2, 2009 2:48 PM | Reply | Permalink
Moon Unit, you GO girl!
February 2, 2009 1:02 PM | Reply | Permalink
Great, I take it that means that the reporter will have no problem hammering anyone in the financial services industry because 1), nearly non of them are successful, and 2) they are not entrepreneurs, but employees of firms owned by others for the most part.
February 2, 2009 1:04 PM | Reply | Permalink
Like Bank of America, sponsor of the Super Bowl with the prime box?!?
February 2, 2009 1:04 PM | Reply | Permalink
(at little OT) Interesting story of VT Gov. Douglass backing the stimulus bill: http://abcnews.go.com/Politics/Business/story?id=6784861&page=1
February 2, 2009 1:12 PM | Reply | Permalink
Can we stop calling people who do this reporters?
February 2, 2009 1:16 PM | Reply | Permalink
Good one.
What exactly is like a reporter about this behavior? That the person who engages in it bears the title of reporter? That part can be fixed, as you say.
February 2, 2009 1:21 PM | Reply | Permalink
And Mary Landrieu replied "Of course we're not punishing successful entrepeneurs! The changes we're proposing will, in fact, make life easier for those hardworking entrepeneurs."
She did, right?
February 2, 2009 1:21 PM | Reply | Permalink
Wow. The comment attributed to "Reporter" is anything but reportorial.
February 2, 2009 1:57 PM | Reply | Permalink
Does anyone know who the reporter was? Although on CNBC it could be virtually anyone running to the defense of the poor, oppressed CEO.
February 2, 2009 1:58 PM | Reply | Permalink
Well, golly, who the heck knew that the vast majority of our CEOs are entrepreneurs.
And this after Mary explained, very slowly, that small business entrepreneurs are the backbone of our economy.
February 2, 2009 2:09 PM | Reply | Permalink
Larry Kudlow? Figures.
February 2, 2009 2:09 PM | Reply | Permalink
It had to be him. He will defend Wall Street to the very end.
February 2, 2009 2:17 PM | Reply | Permalink
Yeah, Kudlow is a Hannity for the trickle-down crowd. He long ago surrendered any semblance of intellectual honesty.
But on another front, Erin Burnett, who should be a tad more objective than Kudlow, said one day last week that there are no grown-ups in the White House. (This is according to my spouse.) Not sure if she was talking about the stimulus or banks or both. Anyone else see that?
February 2, 2009 2:20 PM | Reply | Permalink
I didn't, but I watched her complain yesterday on Meet the Press that the Administration and Geithner (and belatedly, Bernanke) had completely dropped the ball on educating the American public about how dire the situation facing the financial industry.
Got that? The Administration that's been officially in office for 13 days, and the Treasury Secretary who's been officially on the job for, what, 4 days, had completely dropped the ball.
I expected someone, anyone, to point out to her that the public seems to understand quite clearly that the economy is in the crapper, but I waited in vain. What'd I expect? The others were Steve Forbes, David Gregory, and someone from Morningstar.
I turned off MTP. I hope their ratings sink and Gregory gets canned in favor of a journalist.
Rather than a talking hairdo.
February 2, 2009 2:32 PM | Reply | Permalink
When she made the "no grown-ups" comment, Geithner hadn't even been confirmed yet! He was confirmed and sworn in later that same day.
Is NBC News using CNBC to deflect criticism of MSNBC?
February 2, 2009 2:50 PM | Reply | Permalink
Nah. NBC News is using NBC News to deflect criticism of MSNBC. See, with MSNBC, the entire news organization slipped a little bit towards the center from the right. That can't be allowed to occur without adjustment, so NBC and CNBC are doing their part.
I'm mostly joking, of course.
February 2, 2009 3:04 PM | Reply | Permalink
Yes indeed there is a role for fat cats everywhere and that role is making license plates in the jails and pentientiaries of the nation. Let's have em do some honest work for once in their lives eh?
February 2, 2009 3:58 PM | Reply | Permalink
Is he suggesting SUCCESSFUL entrepreneurs should get bailouts too?
That could get expensive!
February 2, 2009 7:58 PM | Reply | Permalink
If the FCC can fine people for cuss words and nipple slips, they should be able to fine journalists for uttering complete nonsense and being on angel dust.
February 3, 2009 8:28 AM | Reply | Permalink
If the FCC can fine people for cuss words and nipple slips, they should be able to fine journalists for uttering complete nonsense and being on angel dust.
February 3, 2009 9:27 AM | Reply | Permalink