Posted on 03/31/2008 6:48:07 AM PDT by governsleastgovernsbest
When This Week assembled a round-table of four liberals versus one conservative yesterday, I kvetched. Maybe I should have cheered. ABC's idea of balance looks good compared to that of CBS. This morning's Early Show segment on the Bush admin's plan, to be announced later this morning, to regulate the financial industry was essentially conservative-free. OK, to be absolutely accurate, there was a brief clip of Treasury Secretary Paulson saying the plan would protect the Fed's balance sheet and US taxpayers.
But in her set-up piece, CBS's Kimberly Dozier emphasized the negative: "critics say it's win-win for banks, not the consumer. Less regulation but no new legal limits to stop questionable lending practices or to stop the shell game financial structures that led to the current mortgage debacle." The only expert she aired was a University of Maryland economist Peter Morici who griped that under the plan: "[banks] can still engage in sharp practices that got them in trouble. There's no reason to believe that this regulatory format will keep the kind of price crisis that we just had from happening again."
Co-anchor Maggie Rodriguez took the baton from there. She first interviewed Sen. Chris Dodd (D-CT), who claimed Congress had already given the Fed "massive" regulatory authority. Dodd predictably blamed the current situation on "a failure of leadership." Then it was on to Rodriguez's in-studio chat with CBS News biz correspondent Anthony Mason who--surprise!-- was also a critic of the plan.
View video here.
(Excerpt) Read more at newsbusters.org ...
Early Show dumps on Bush Fed plan ping to Today show list.
That was a today Bloomberg headline.
"Rally" ? - Whoopee. So who's celebrating?
Wait a minute -- I thought the whole crisis was because Congress made it too easy to get loans . . .
Too bad Bush couldn't just dissolve Congress, the way Cromwell dissolved the Rump Parliament -- that woul solve all our problems! ;-)
I’m on board with anyone who bashes Bush’s bailout plan, as long as they also bash any other bailout plan too.
Not true. You'd have to take all the buracracies-State Dept., IRS, and yes, the Pentagon and CIA. They are all contaminated with 'leaking' liberals,and undermine any and all efforts to streamline, improve and cut expenses.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.