Courtesy of Pam Martens.
There is growing evidence that Wall Street and other corporate money is finding its way into the pockets of business reporters today, just as evidence surfaced in 1932 of bribes to reporters at the New York Daily News, Wall Street Journal, New York Times, New York Herald Tribune, New York Evening Post and others.
Yesterday, Yasha Levine and Mark Ames of ExiledOnLine.com published a stunning investigative report of a deeply compromised Adam Davidson, host of NPR’s Planet Money. On September 12, 2011, we reported that CNBC’s Larry Kudlow had pocketed $332,500 from the Koch funded Mercatus Center without disclosing it to viewers of his program.
On July 2 of this year, we reported that Andrew Ross Sorkin, of the New York Times and CNBC, attempted to downplay the need for restoring the Glass-Steagall Act by reporting that Lehman Brothers, Merrill Lynch, and AIG had no connection to the Glass-Steagall Act, when, in fact, each owned FDIC insured banks which would have been impossible if the law was still in force. Despite two requests for correction of Sorkin’s spectacularly erroneous article, the article remains on the New York Times web site as written, suggesting it is not poor reporting but propaganda.
Back on February 2, 2007, we wrote about Maria Bartiromo of CNBC accepting international flights on Citigroup’s corporate jet and speaking engagements to Citigroup clients. An in-depth look revealed that CNBC and Citigroup were engaged in what marketers call co-branding.
Today’s Wall Street has engaged in every practice that led to the crash of 1929; rigging hot new issues, tainted research, pump and dump, stock loan schemes, collusion, price manipulation. And yet today’s Congress has yet to take up the obvious inquiry as to whether Wall Street’s boosters are on the take.
During the hearings of the Senate Committee on Banking and Currency following the stock market crash of 1929, we saw some shining examples of what a real investigative body is capable of doing for the American people they are supposed to represent.
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