In what some observers are calling a reshaping of Wall Street, two of the world’s largest investment banks, Merrill Lynch and Lehman Brothers, are set to disappear. Lehman has announced it will file for Chapter 11 bankruptcy protection, and Merrill Lynch was bought by Bank of America. For all the complicated financial instruments and relationships involved in the current financial turmoil, the underlying cause is still relatively simple: the bursting of the housing bubble. One market strategist told The New York Times: “We are in the grip of a vicious …
Speaking at the Voters Values Summit, Newt Gingrich lit into Charlie Gibson and ABC News for their “stunningly distorted interview” of Gov. Sarah Palin last night. Gingrich focused his criticism on Gibson’s butchering of a Palin quote about U.S. policy in Iraq. Here is how Gibson butchered Palin’s quote last night: GIBSON: You said recently, in your old church, “Our national leaders are sending U.S. soldiers on a task that is from God.” Are we fighting a holy war? Here is what Palin actually said: Pray for our military. He’s …
This Saturday, Sarah Palin told a crowd in Colorado Springs, CO: “The fact is that Fannie Mae and Freddie Mac have gotten too big and too expensive to the taxpayers. The McCain-Palin administration will make them smaller and smarter and more effective for homeowners who need help.” Now some in the press are claiming that this statement “puts her at odds with reality” on how Freddie and Fannie operate. However, it is the press, not Palin, that needs to take some “Fannie/Freddie lessons.” For example, ABC’s Jake Tapper writes: They’re …
Energy consistently ranks among the top three issues Americans care most about this year. So when Sarah Palin burst onto the national scene, the first thing we did was analyze her record on the issue. The mainstream media, however, seemed mostly interested in attacking Palin’s personal life. But slowly they are returning to cover the public policy issues at stake. Today The Washington Post takes a look at Palin’s efforts to build a natural gas pipeline in Alaska: Ms. Palin is indeed correct about the need to tap the 35 …
ST. PAUL — The most common headline or lead for stories about Alaska Gov. Sarah Palin’s speech last night was that she “electrified” the arena. Watching from our perch in the rafters we have to agree: Palin sent the energy in the Excel Center through the roof. For all the attacks from liberal media commentators this week, Palin proved to the nation that when it comes to the most important issue in this election, energy, she has experience and results in spades. The left says it wants to reduce American …
