Moyers: James K. Galbraith on Finacial Crises
Bill Moyers talks about the economic future with with James K. Galbraith, Lloyd Bentsen, Jr. Chair in Government/Business Relations at the LBJ School of Public Affairs at the University of Texas at Austin. Galbraith is the author of six books, the most recent, The Predator State: How Conservatives Abandoned the Free Market and Why Liberals Should Too.
Bill Moyers Journal
PBS, October 24, 2008
The Bank Of America on 60 Minutes
click for video
Banks are supposed to lend money, and when they stop - as they have in recent months - the workings of our entire economy are threatened. Credit became so frozen, the government had to step in this past week and take an ownership stake in the country’s biggest banks.
On Monday Treasury Secretary Henry Paulson summoned the CEOs of the nine largest banks to Washington - and gave them a massive amount of money so they would start lending again.
The largest of the banks is Bank of America (B of A) - now partly owned by the United States of America.
The head of Bank of America, Ken Lewis, says that when he and the others met at the Treasury Department, it became clear that Secretary Paulson's "offer" was an ultimatum - no negotiations.
"In other words, take it or leave it?" correspondent Lesley Stahl asked.
"Right. Right, right."
The Bank Of America
The CEO Of The Nation's Largest Bank Talks About Treasury's Plans For Buying Into Financial Firms
60 Minutes, Oct. 19, 2008
Why is Barron's Banned From CNBC?
But even when some thing rubs me the wrong way, the rest of the magazine is usually filled with worthwhile content: Mike Santoli's Streetwise, Randall Forsyth's, credit writings, Michael Kahn's Technician, The Trader Column, the various interviews, and of course, Alan Abelson. It has been a fixture of my weekend for as long as I have been in the business. I was thrilled to publish there last month.
If it wasn't important, it wouldn't be worth criticizing.
One of the things I enjoy has been the Monday morning CNBC segment called "The Barron's Bounce," usually with Michael Santoli. It dawned on me that I hadn't seen Mike on in sometime, so I started poking around. I was surprised to read via Gawker that ever since the Barron's cover story looking into Jim Cramer's track record (Shorting Cramer) in 2007, all Barron's staffers have been unofficially banned from CNBC.
This decision serves neither CNBC nor its viewers. Legitimate analysis and criticism into anyone's track record is encouraged. When I screw up -- and I do, all too regularly -- I expect to hear about it from readers. If Cramer's nightly stock picks are under-performing, well, that is fair game for any critique.
Let me break ranks for a moment and say something nice about Jim Cramer's show: The most positive aspect of it has been to teach many of the newbies who watch it some basic money management techniques. I've heard Jim discuss diversification, stop losses, the dangers of naked put writing, and other, rarely discussed issues. Yes, I have a hard time with the cult of personality that has evolved around the show, and some of the goofier aspects of the broadcast, but I am not the intended demographic of Mad Money.
The bottom line is that there is a lot more to the show than Cramer's picks. Besides, he is on 5 hours a week, and answers dozens a questions on 100s of stocks. No one can throw out that many responses to that many trading ideas and perform any better than any large mutual fund.That's just the math of discussing that many names.
I would urge CNBC to reconsider this Barron's ban. If you don't find the Barron' content worthwhile, well that's fine. But to respond to criticism in such a heavy handed way makes the network look thin skinned and petty.
Viewers deserve the best guests and viewpoints a network can wrestle up. I cannot see how this serves anyone's interests -- the viewers, Barron's or CNBCs.
This is just one man's opinion . . .
UPDATE : October 20, 2008 10:09 am
I wrote this piece last night, after emailing a few Barron's staffers last week. I saw the NYT piece on the train in this morn, after my piece had posted.
Here is the link tot he Times:
Jim Cramer Retreats Along With the Dow
Note that the headline references Cramer's mannerisms, not the ratings --w hich are up substantially.
Boo-yah! Barron's is Shorting Cramer
BARRON'S COVER AUGUST 20, 2007
Colbert on Computerized Trading
Stephan Colbert on The Computer Menace:
60 Minutes on the Financial Storm
On Friday Congress finally passed - and President Bush signed into law - a financial rescue package in which the taxpayers will buy up Wall Street's bad investments.
The numbers are staggering, but they don't begin to explain the greed and incompetence that created this mess.
It began with a terrible bet that was magnified by reckless borrowing, complex securities, and a vast, unregulated shadow market worth nearly $60 trillion that hid the risks until it was too late to do anything about them.
And as correspondent Steve Kroft reports, it's far from being over.
A Look At Wall Street's Shadow Market: How Some Arcane Wall Street Financial Instruments Magnified Economic Crisis
CBS 60 Minutes, Oct. 5, 2008
Stewie Griffin Meets Wall Street
Yeah, I know its old -- but its still very funny!
George Carlin on HBO
HBO will air Carlin's most recent live comedy special, "It's Bad for Ya," at 9 p.m. Friday, June 27.
Tonight and tomorrow, HBO2 will air 11 of those earlier shows:
Wednesday, June 25th
8:00pm George Carlin at USC (1977)
9:00pm George Carlin Again! (1978)
11:00pm Carlin at Carnegie (1983)
12:00am Carlin on Campus (1984)
1:00am Playin’ with Your Head (1986)
Thursday, June 26th
8:00pm What Am I Doing in New Jersey? (1988)
9:00pm Doin It Again (1990)
10:00pm Jammin in New York (1992)
11:00pm Back in Town (1996)
12:05am You Are All Diseased (1999)
1:00am It’s Bad For Ya (2008)
Also, this weekend, NBC will be running the very first ever 1975 Saturday Night Live, hosted by none other than George Carlin. Its a must TiVo show.
Those of you who may not be all that familiar with Carlin's earlier works should especially catch the 1970's and 80's work. Its probably tame compared to what you are used to today, but Carlin was groundbreaking. Most modern comics owe a huge debt to Carlin.
For those of you without HBO, there's always the complete set: All My Stuff
George Carlin (1937 - 2008)
Tony Soprano Whacked
Tony Soprano is Dead.
What follows is a brief excerpt -- you really need to read the entire thing -- but this gives you a flavor of the film analysis:
THE PATTERN THEN BEGINS:
(1) Bell rings, We cut to a shot of Tony’s face looking up to see who is coming through the door (this shot is about 1-2 seconds). We then see who is coming through the door from Tony’s POV. It is a tall woman with dark hair who enters Holsten’s. We then cut back to Tony’s face to see his reaction.
(2) Bell rings, We cut to a shot of Tony’s face looking up to see who is coming through the door (this shot is about 2-3 seconds). We then see who is coming through the door from Tony’s POV (same shot as (1)) It is an older man wearing a “USA” cap who enters Holsten’s. We then cut back to Tony’s face to see his reaction.
(3) Bell rings, We cut to a shot of Tony’s face looking up to see who is coming through the door (this shot is about 1-2 seconds). We then see who is coming through the door from Tony’s POV (same shot as (1) and (2)) It is Carmela who enters Holsten’s. We then cut back to Tony’s face to see his reaction.
(4) Bell rings, We cut to a shot of Tony’s face looking up to see who is coming through the door (this shot is about 1-2 seconds). We then see who is coming through the door from Tony’s POV (same shot as (1), (2) and (3)). It is “Man in Member‘s Only Jacket” (hereafter “MOG”) followed by AJ who enters Holsten’s. We then cut back to Tony’s face to see his reaction.
(5) Bell rings, We cut to a shot of Tony’s face looking up to see who is coming through the door (this shot is about 2 seconds). According to the pattern, we should then see who is coming into the diner from Tony’s POV (this should be Meadow as we see her about to enter the diner a few seconds before the bell rings). Instead, the screen cuts abruptly to black mid-scene (at the exact spot where we should see Meadow from Tony’s POV) and the audio cuts off.
All the viewer sees is “blackness” where Tony’s POV should be. This is Tony’s POV because he is dead. We no longer hear Journey’s “Don’t Stop Believing” because Tony no longer hears it. If this was a normal ending we would see a fade to black followed immediately by the credits and we would probably still hear the music. Instead, the blackness and silence lingers for 10 seconds before we see the credits. This emphasizes the blackness, nothingness and eternal nature of death.
That works for me . . .
The Sopranos: Definitive Explanation of “The END”
masterofsopranos, May 11, 2008
BMO's Don Coxe on Food Prices and Shortages
BMO Financial Group global portfolio strategist Don Coxe discusses Food prices, shortages, and the appropriate investment strategy in the face of the recent food crisis:
courtesy of BNN
Global Portfolio Strategy [04-30-08 10:10 AM]
BNN, April 30, 2008
You may have noticed that I run a bit of video a few days a week on the site, usually overnight.
As part of the redesign, I am setting up a tab for Video (hence, the slow loading video won't impact the main page). As such, I have been compiling a list of Business-related Video for the update, and this is what I came up with.
(Have I missed anything significant?)
Financial Times (FT)
Business of Innovation
Yahoo Finance Tech Ticker TV
New York Times