Politics and Media Headlines 2/3/09

Economic crisis hitting political fundraising, too (McClatchy)
The current recession is wrapping its tightfisted hands around its latest victim: political fundraising.
NOW, we'll see some action.--Caro

All Hat No Cattle

Bailed-out Bank of America spent $10 million on Super Bowl party. (Think Progress)
Just weeks ago, the federal government extended $20 billion to Bank of America to keep it afloat, bringing its total in federal bailout dollars received to $45 billion. ABC News reports, however, that the bank managed to scrounge up millions of dollars to be an NFL sponsor and for "a five day carnival-like" Super Bowl party just outside the stadium: "...The bank refused to tell ABC News how much it is spending as an NFL corporate sponsor, but insiders have put the figure at close to $10 million..." The Huffington Post notes that this is the latest in a series of bailed-out banks that continue to spend lavishly on sports sponsorships.


Drinks Are On the (White) House (by Jake Tapper at Political Punch, ABC News)
President Obama's invited guests to the White House cocktail party [Wednesday night were] essentially the bipartisan bicameral leadership of the House and Senate. Six House Democrats, six House Republicans, six Senate Democrats, six Senate Republicans. Their spouses are invited as well. Hors d'oeuvres -- chicken curry, wagyu steak - [were] served in addition to drinks.
Wagyu beef, aka Kobe beef, a product of Japan, costs $75 to $80 per pound at ePrimeCuts.  It's more expensive than that in stores.  I tasted some many years ago, and it was incredibly good.  I was able to cut it with my fork.--Caro

Democrats Set High Goal Of Sweeping Fiscal Reform (Washington Post)
Though key Republicans in the Senate say they are ready to work with Obama, House GOP leaders last week orchestrated a lock-step rejection of his economic stimulus package, signaling their intent to oppose rather than cooperate with the new president. Meanwhile, progressives in the Democratic party are preparing a major push for a big permanent increase in social spending, beyond the expiration date of the stimulus bill. Obama and his allies nonetheless have said that they view a grand bargain as a political imperative. Anxious moderates in both parties have made clear that their support for some of the president's most significant campaign promises hinges on having a plan to pay for them.
What crap!  Nobody EVER demanded that George Bush have a plan to pay for his lavish tax cuts and his horrendously expensive foreign adventures.  The only plan was to dump a mess in the lap of the next guy.--Caro

More Obama, Please (by paradox at The Left Coaster)
We know what works, the economists always said in my brief forays of study into the Depression and public policy economics, we learned what we did wrong before with the markets and the disastrous penny-pinching of Hoover, a Depression can't and won't happen again... Spend, the revered Keynesians always say, spend! Inject capital directly into the system when the consumer and industry won't, and most of all keep the little people employed to get consumer spending back. Is that what the current stimulus plan does? Not hardly, it's full of those ridiculous Randian tax cuts that got us into this ditch into the first place...

We need President Obama directly speaking to all of us every day, through press conferences, YouTube videos, a modern variant of fireside chats, appearances and speeches why liberal social spending works. Why we have to do it, there is no choice, it is very true we know what works, duty now implacably demands that we implement it. Take the message to the little people relentlessly like FDR did, President Obama, we know that works too.

Obama Plans Media Blitz (Political Wire)
President Obama will give sit-down interviews with all the major networks today, according to Hollywood Reporter.
"Obama will talk separately with the anchors of ABC, CBS, NBC, CNN and Fox News Channel at the Oval Office on Tuesday. The networks will air their interviews over the course of the afternoon and the early evening." Obama is expected to make the case for his economic stimulus package.

Obama turns to grassroots to sway Senate on stimulus (McClatchy)
A divided and discontented Senate on Monday began debating a nearly $900 billion economic stimulus plan, while President Barack Obama launched a new grassroots campaign asking Americans to prod their lawmakers to act on it. Obama, looking to bring some Republican critics on board in time to have the final bill ready for his signature by mid-February, called Democratic congressional leaders to the White House on Monday for a strategy session. In an e-mail sent by the Democratic National Committee, the president also urged voters to host or attend a neighbor's "Economic Recovery House Meeting" this coming weekend, where a videotaped message from party chairman and Virginia Gov. Tim Kaine would be played to answer questions about the stimulus spending.

Radio ad pressures N. Carolina's Burr over stimulus bill (McClatchy)
A new radio ad running in Sen. Richard Burr's community of Winston-Salem urges him to support the economic stimulus package now being considered by Congress.

Click here for more politics and media news headlines.

Carolyn Kay

Tags: Media, Politics (all tags)



Fact check

This is not a defense of B of A but rather clearing up what is rapidly turning into a urban myth. BofA did not spend 10 million on the Super Bowl Party. Yes it was several million but not 10. The ten million is part for their joint marketing program inked with the NFL last summer, long before TARP.

The bank refused to tell ABC News how much it is spending as an NFL corporate sponsor, but insiders have put the figure at close to $10 million. The NFL Experience (the Super Bowl event) was on top of that and was inked last summer, according to the bank.

http://abcnews.go.com/Blotter/story?id=6 782719&page=1

Now the question will be asked why not cancel, well sign there was a deal/contract how would have cost to cancel and or litigate it?  

by jsfox 2009-02-03 01:26PM | 0 recs
Re: Fact check

Since we bailed them out, don't we deserve an answer?

Carolyn Kay

by Caro 2009-02-03 02:14PM | 0 recs
Re: Fact check

Where did I say we didn't. All I wanted to do was clear up what is becoming a common misconception -

They spent 10 million on a Super Bowl party, they did not.

by jsfox 2009-02-03 02:31PM | 0 recs
Re: Fact check

...mwah mwah the Village (?) mwah mwah Hillary mwah mwah anti-Semite...

Carolyn Kay

by username 2009-02-03 06:10PM | 0 recs
Re: Fact check


by jsfox 2009-02-03 06:18PM | 0 recs
Re: Fact check

This particular joker is just a cross-post from correntewire.  I should write a script do make a lambert here.

by username 2009-02-03 06:31PM | 0 recs
P.S. (too many of these...)

s/mwah/blah/g, if that helps.  "Mwah" would be Charlie Brown's teacher.

by username 2009-02-03 06:32PM | 0 recs
Re: Fact check

Nobody takes correntewire seriously anyway.

by Jess81 2009-02-04 09:05AM | 0 recs
Re: Fact check

Good lord, we have gotten so touchy.  I wasn't challenging you.

Carolyn Kay

by Caro 2009-02-04 12:39AM | 0 recs


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