Yesterday afternoon, Hillary Clinton was on CNBC with Maria Bartiromo, discussing her plan for protecting some homeowners who are in danger of losing their houses due to resetting subprime mortgages. It was supposed to be an interview, but it was more of a spat, and showed the deep pro-Wall Street bias that is typical of much of the financial media.Clinton claimed that Wall Street played a major role in creating the subprime mess and was looking for support from the Street for the plan to freeze mortgage rates for some borrowers. Bartiromo couldn't hide her strong disagreement with this argument. Her basic point was: What about personal responsibility? Why are people who entered into contracts being bailed out? And she all but shouted, You liberal! Violating the sanctity of contracts! Interfering with the blessed Free Market!
I suppose Maria Bartiromo is technically a "journalist" but it's hard to see her as a neutral analyst. She wasn't interviewing Clinton, so much as grilling an opponent while defending her own immovable opinions. When Clinton said something about the Bush tax cuts that have disproportionately benefited the wealthiest 1% of Americans, Bartiromo jumped in to defend them. Bartiromo raised the canard that since the majority of households own stocks, the cuts in capital gains benefit everyone. This is a major talking point of the Bush administration and The Wall Street Journal editorial page, but it has only the weakest connection to reality.
In the analysis and discussion on MSNBC after Clinton left the show, Bartiromo further displayed her bias as she mocked Clinton for claiming credit for Secretary Paulson's plan, though a law professor guest pointed out that Clinton has been talking about this for at least six months. Another strange detail of the interview: fellow "journalist" Dylan Ratigan was caught on camera rolling his eyes as Clinton spoke. This only confirms my suspicion that Ratigan is more of a cheerleader than a journalist. He prefers calling the race -- "The Dow is up! The Dow is down!" -- to actually understanding it. He's like a kitten chasing a ball of string -- he's excited, has lots of energy and loves to see the ball bounce, but he has no idea why it moves one way or another -- and doesn't particularly care either. It seems that for TV-based financial journalists, it's all a game, one in which Wall Street usually wins.
Before the bell: Futures lower ahead of jobs report
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Reader Comments (Page 1 of 1)
12-06-2007 @ 2:47PM
Brian said...
Maria Bartiromo is infinatly more qualified to be president than Clinton. Read your article again, it's the theme sort of like the pot calling the kettle black. Try going to journalism school.
12-06-2007 @ 3:12PM
Jonnie said...
IOWA OBAMA IS NOT THE ANSWER!
It is proven over and over in his short time as a senator that Obama doesn't have the nerve to take on tough issues. Notice Obama is ducking votes on abortion and Iran!!! Seeking a trillion-dollar tax hike and raising the retirement age for Social Security!!!! PLAY ATTENTION IOWA! DON’T WASTE YOUR VOTE!
Obama completely skipped the Senate vote on Iran. But throws mud at ALL the other senators doing their job. Take a look at his public tenure in the Illinois Legislature, where lawmakers can vote "present"?? (If you can believe that), instead of yes or no on a bill. Obama, votes “present" on SEVEN ABORTION MEASURES!!!! Unbelievable! WAKE UP IOWA! The President can't vote 'present.' Nor pick and choose which challenges he will face. This guy is afraid to make ANY decisions. LOOK AT THE FACTS IOWANS.
IOWANS the world is watching you first! SHOW THAT YOUR ARE INTELLIGENT PEOPLE, Not Americans who would see out this great country for a TV talk show host!!!
DO NOT WASTE YOUR VOTE ON OBAMA he cannot win in the general election. I vote for him is a vote for the Republican Party
Madame President of the United States…it's an extraordinary thought. We truly are in a momentous time, where a woman's potential has no limitations," "Hillary Clinton has already proven to a generation of women that there are no limits for success. She is driven by her passion for public service and her belief in the enormous potential of our country. Smart, capable and strong in her convictions, Hillary has transcended the dictates of what is thought to be possible for our time.
"Hillary is a powerful voice for change as we find our country at an important crossroads. Under her leadership, our country will regain its respect within the global community. She will prioritize issues of global climate change, universal healthcare and rebuilding a strong economy. After 8 long years, the public will once again have faith in their government.
"Another former first lady, Eleanor Roosevelt once wrote, 'In government, in business, and in the professions there may be a day when women will be looked upon as persons. We are, however, far from that day as yet.' More than 50 years later 'that day' is now upon us…and Hillary Clinton is ready to shatter through that glass ceiling for all women."
SHAME ON YOU OPRAH!
VOTE FOR CLINTON
12-08-2007 @ 8:53AM
Gabby said...
Oh my goodness gracious...they way you wrote your article made me want to vote for Obama even more. You talk about Iowa and how they need to be smart Americans; well, I think you need to heed your own advice and become a smart, informed, voter/american yourself. If you think that more years of Bush/Clinton, Bush/Clinton is the way to go than I recommend you show your "smarts" and not vote for Hillary soley bc she is a woman. Hello?! Think about how she could be a Senator of a state she was never a resident of and became a resident of solely for the purpose of becoming a senator? She seeks power nothing but and that is a prime example. She was first lady of Arkansas, how can she represent New York? You need to wake up and become educated yourself because she is NOT a change candidate only the status quo and more fighting and inbreeding will result from her as President. I say NO to Hillary and I'm a well educated person who has advanced degrees in Public Policy and Gov't.
Oprah Winfrey has more smarts, passion, compassion, and morals/values than Hillary Clinton could dare dream of and what she has done for the world is 10X what Hillary has done for woman and the world over.
Wake up yourself....pay attention....and become educated about politics so you aren't pulled into their "spin".....
12-06-2007 @ 3:43PM
beanspants said...
in cases where financial institutions lied to the public they should be prosecuted when current laws where broken.
if the public bought loans they couldn't afford and are now complaining about them, well f**k 'em. There should be no bail out.
12-06-2007 @ 6:05PM
moon said...
Not fair at all to bail out irresponsible homebuyers that knew beforehand that the rates would escalate ater it was built into the contract duh! i paid for my home through dedication sometimes 3 jobs and a lot a lot of very hard work i knew i knew all along i'd get my house paid for but i could also make the set payments too.
12-06-2007 @ 6:07PM
Thomas said...
Penny you're right.
Hillary is not presidential material! I've read some of what Dick Morris has said about her. He worked with her for 8 yrs and knows her better than any of us. He doesn't have a flattering opinion of her. She would do much to destroy this country. Socailism doesn't work.
12-08-2007 @ 8:53AM
Gabby said...
Socialism does work....look at France and Canada. They are more happy, healthy, and prosperous as a people then the entire U.S. combined. Need more prodding....try Norway, Sweden, Finland, and Switzerland....Don't say Socialism doesn't work without laying out your view specifically detailing why it doesn't work...
If you ask me Capitalism only breeds "greed" and the "me myself and I" attitude...You need to find some kind of a balance where ALL people are included not just the wealthy, the lucky, the lobbyists, politicians, etc..and to me it seems America would sell its self out for money and there never seems to be a limit as to how much America or Americans will sell out for....
Go Socialism!
12-06-2007 @ 6:09PM
moon said...
Not fair at all to bail out irresponsible homebuyers that knew beforehand that the rates would escalate ater it was built into the contract duh! i paid for my home through dedication sometimes 3 jobs and a lot a lot of very hard work i knew i knew all along i'd get my house paid for but i could also make the set payments too.
12-06-2007 @ 6:43PM
Penny said...
Maria was correct of course in bringing up the matter of personal responsibility. Hillary to be sure is looking for votes, and talking personal responsibility will not get the votes of the feckless ignoramuses who signed up for mortgages they couldn't pay. Such stupid people are natural followers of Hillary, so she would be foolish to antagonize them.
12-08-2007 @ 8:54AM
Gabby said...
What about personal responsibility to corporate america too? The Govt bailed out the Savings and Loan Industry and their is TONS of corporate welfare handed out left and right...If we are going to criticize lets be fair in our criticisms and include all guilty parties....
12-06-2007 @ 9:20PM
Chris said...
How does Dylan Ratigan rolling his eyes at Clinton's comments confirm for you that he doesn't understand the market?
There is no logic in that, but I guess you got your personal jab in so it probably made you feel better.
Who the hell is Michael Rainey, anyway? Why should we value his opinion over the "analysis" provided by CNBC? Do you get upset when liberal reporters disagree with conservatives, too?
12-06-2007 @ 9:56PM
Vote for Hillary Online said...
Yup, I noticed Dylan making funny faces at the camera when Hillary was speaking too. The full video and screen shots here.
12-06-2007 @ 11:28PM
Jeffrey said...
I am waiting for the government to bail me out of a bad contract I made. I went to Las Vegas and they made it seem like I would win! I invested a lot of money but it didn't work out! CAn I get my money bac or at least have the Government reset the odds so I can win too.
1-18-2008 @ 1:12PM
Nikki said...
I agree with Moon and Beans ,My husband and I too worked our buts off to pay for our home but we did it!we had and still have struggling times but you work through it and yeah if it means go get a second, third job and work 7 days a week then you do what you gotta do, which we have! I think its pathetic that these people are looking to the government for help with loans that they took out!and not with my hard earned MONEY!