Accuracy in Media

CBS News wrote an article and the headlines can only cover so much. For example, Bill Clinton collected $50,000 a month from MF Global, a company headed by former Democratic governor of New Jersey, Jon Corzine, as it was heading towards bankruptcy. Corzine avoided jail, even though he lost at least $1 billion of his customer’s funds and […]

Well, that may happen anyways if the House of Representatives takes it up. Sen. Bernie Sanders called on the Federal Reserve Monday to provide emergency loans to the government of Puerto Rico, saving the residents of the island from its fiscal crisis. While visiting Puerto Rico, the Democratic candidate for president said that if the […]

Well, should Puerto Rico be saved from their own ineptness?

WASHINGTON — A Reuters writer suggested that the U.S. government should bail out the beleaguered city of Detroit, which has fallen far from grace from its heyday as “The Motor City.” Reuters published an analysis that announced the city could exit bankruptcy when Detroit’s 170,000 creditors will vote on a potential deal to get out of […]

WASHINGTON — After months of negotiating and seeing the city of Detroit flounder financially, the public workers union for retirees reached an agreement with the city officials led by emergency manager Kevyn Orr. Reuters reported that the two sides reached a deal on pension and healthcare benefits with their two pension funds. This helps Detroit’s […]

WASHINGTON — Detroit’s recent effort to declare some of its general obligation bonds as unsecured debt faced a strong challenge by public sector unions, but resulted in a judge’s decision to impose a 2 to 3-week negotiation period between bond investors and the city. Reuters reported that if the city wins the case, then bond insurers […]

WASHINGTON — The struggles and bankruptcy of the famed Motor City of Detroit has been well-documented. Now, some suggest that the city could gain back valuable and needed revenue from casino gamblers. Reuters published an analysis that suggested that gambling revenue could save the struggling Motor City. There are three casinos in Detroit and are […]

WASHINGTON — The once-proud and powerful unions that ran the city of Detroit have begged but now threatened the city’s emergency manager to scale back pension cuts. Reuters reported that Kevyn Orr, the appointed emergency manager by Republican Michigan Governor Rick Snyder, made pensions cuts a necessary action to pull Detroit out of bankruptcy. The […]

WASHINGTON — Detroit’s bankruptcy could undermine the long-held belief about city obligation bonds and whether they should be trusted, at least that is what researchers at the Chicago Federal Reserve Bank said last Friday. Reuters reported that the general obligation bonds, which are the most frequently sold form of debt on the U.S. city bond […]

WASHINGTON — American Airlines, which is struggling to stay afloat, won approval from a U.S. bankruptcy judge to emerge from bankruptcy. Reuters reported that the U.S. government has to approve the proceedings of a possible merger between American Airlines and U.S. Airways. However, the outgoing American Airlines CEO, Tom Horton, was denied a $19.9 million […]