Since the dinosaur media pretty much put a black out on the CBO report that said the 'stimulus' bill would be bad for the economy this nonreporting of economic news shouldn't be surprising. Everything below is from Ace of Spades.
Business reporters blamed the nearly 400 point loss on Geithner's bank bailout plan, feeling it wasn't dramatic enough.
I'm quite certain that was one factor in the day's decline. But notice the MSM is not willing to mention other possibilities. Like the passing of the "stimulus."
Is there no one in AP reporters' rolodexes who offered (or would offer, if called) a quote suggesting that the spendulus will harm the economy? None? That's quite strange, given that a large number of economists believe the spendulus harmful, and also considering that, as far as politics and economics, traders and fund managers and analysts skew a bit to the right as compared to, say, Paul Krugman.
It seems to me entirely implausible that no expert the AP could have called -- or did call -- would offer his opinion that the sell-off was due partly to the uninspiring spendulus package.
And yet that's how the day's events were reported. According to the MSM's reporters, economic analysts are all on the same page in believing that the government needs to spend even more. And so the only possible way to explain a sell-off is by referencing Geithner's supposedly-not-generous-enough bailout.
I would contend this is a deliberate lie by both commission and omission. Like global warming, they're just not going to even report any experts offering opinions that conflict with the liberal consensus.
Here's link to a Financial Times story explaining why the 'stimulus' is a POS.