Two ‘Fer


Media bias.

I don’t like getting caught up in what is and what isn’t “bias”.  For one, I don’t like the partisan sniping.  And two, I think that journalists think they are being honest.  So whatch’a gonna do?

So, I don’t usually put much merit in the idea that Fox is biased right [no shit] or that MSNBC is biased Left [ again, no shit ].  But what I DO find interesting is where news is buried.

Check this out:

So, there is some news that I think has significant bearing on the current “news of the day”.  So, I went to see if the most neutral news outlet I can think of carried it.  This is what I see above the fold.

In short, some news, some silly, but missing something….

THIS is what I talk about when I, personally, mention media bias.  All we are talkin’ about is the debt.  And is there any news to report on the US making, or losing, money on it’s investments?

Reuters
12:41 PM, E.T. | July 21, 2011
Industrials

The U.S. and Canadian governments exited their investments in Chrysler Group LLC Thursday, allowing Italy’s Fiat SpA to become the automaker’s majority stakeholder.

Fiat now owns 53.5 percent of Chrysler on a fully diluted basis, the Auburn Hills, Michigan-based company said in a regulatory filing Thursday. Fiat is on track to hold 58.5 percent of Chrysler by the end of the year.

So, here is the story.  The US government exited their investments.  Not until paragraph FIFTEEN does the article mention this:

But the United States is likely to lose $1.3 billion that it had lent to the old Chrysler, Treasury said in a statement on Thursday.

Nice.

Nothing on Reuters.com and not one word of the loss until the very last sentence in the article.  This is a Leftist’s world and we’re just trying to get out.

 

 

 

 

 

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5 comments
  1. I guess I’m at a bit of a loss. That doesn’t seem like big news. The news also buried how the TARP program actually made money, and other bits of business/economic news that tends to only interest people in those fields. Even when the wars passed the $1 trillion mark that didn’t get a lot of play. Treasury may lose $1.3 billion on a loan? OK, but what exactly is the big news here?

    • pino said:

      I guess I’m at a bit of a loss. That doesn’t seem like big news.

      Well, I think that when news the US government is going to sell shares of the car companies and MAKE a profit, that is big news. When GM says it “pays off it’s loans”, that’s big news. The fact that the US government turned bankruptcy laws upside down, saved a car company from bankruptcy only to let it go into bankruptcy and then sells those shares for a loss as the United States is facing a debt crisis….seems to be big news. It seems to speak directly at the problem.

      The news also buried how the TARP program actually made money

      Which part made money?

      • It was paid back with interest. As early as last September they thought it would cost a total of $50 billion, which even then was impressive.
        http://www.businessweek.com/magazine/content/10_41/b4198029649845.htm

        I thought I read somewhere it actually made money, but in a search I could only find that in March the total cost was down to $19 billion:
        http://www.housingwire.com/2011/03/30/cbo-drops-estimate-of-tarp-cost-to-19-billion

        But given how it saved credit markets, it may have been one of the most enlightened government programs ever (perhaps President Bush’s finest hour). Most people still think it cost taxpayers hundreds of billions in “bailout” money!

  2. Moe said:

    pino, fact is that story has been all over the news. It was in my newspaper this am and I heard it last night too on CNN. It’s is not the top story, but it’s not at all hidden either. I agree with Scott that the debt story with sums in the trillions is huge and the Chrysler story is pretty ordinary.

    It was in the NYTimes yesterday and today. In the Times article yesterday, the $1.3 billion was mentioned in the very first paragraph.
    http://www.nytimes.com/2011/07/22/business/us-sheds-its-stake-in-chrysler.html?_r=1&scp=2&sq=chrysler&st=cse

    By the way, bias aside, I really don’t see MSNBC or FOX as real news outlets; their actual news operations are there so they can claim some credibility. MSNBC does have the resources of NBC which still supports some serious journalists but fewer and fewer these day. CNN tries but does a poor job. I count on PBS, BBC, the web and print when I want to find out what’s behind the headlines..

    That said, what the cables excel at is real time big story reporting. On and after 9/11, CNN’s ratings were through the roof. Justs now, someone blew up a big govenment building in Norway and CNN is doing live feed. That’s the stuff they do well.

    • Moe said:

      CORRECTION – just realized that the live coverage of Norway was on, gasp!, MSNBC, not CNN.

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