Bloomberg
Media Bias by Omission: Bloomberg Doesn't Investigate Democratic Presidential Candidates
As of Nov. 2019, Bloomberg admits that it engages in bias by omission with a Lean Left bent. Mike Bloomberg, New York City mayor and founder of the financial software company that owns Bloomberg, officially entered the 2020 Democratic presidential race in Nov. 2019. According to a memo sent to editorial and research staff obtained by CNBC and verified by a Bloomberg spokesperson, Bloomberg News announced it would refrain from investigating Mayor Bloomberg and his Democratic rivals.
“We will continue our tradition of not investigating Mike (and his family and foundation ) and we will extend the same policy to his rivals in the Democratic primaries. We cannot treat Mike’s democratic competitors differently from him,” Editor-in-Chief John Micklethwait said in the memo.
In Dec. 2019, President Donald Trump's campaign announced it would stop credentialing Bloomberg News reporters for rallies and other events until the outlet resumed investigating Democratic candidates.
Mike Bloomberg is founder and 89% shareholder in Bloomberg LP, the financial software company that owns Bloomberg News.
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First Citizens BancShares Inc. agreed to buy Silicon Valley Bank, which was seized by regulators following a run on the lender.
The bank agreed to take on all deposits and loans, a deal that includes the purchase of about $72 billion SVB assets at a discount of $16.5 billion, according to a statement from the Federal Deposit Insurance Corp. The agency took control of the bank after SVB collapsed earlier this month.
About $90 billion in securities and other assets will remain in the receivership for disposition by the FDIC, while the Federal institution also got equity appreciation rights in First Citizens worth as much as $500 million. The estimated cost of the failure to the Deposit Insurance Fund is about $20 billion, though the exact extent will be determined when receivership is terminated, according to the statement.
“This has been a remarkable transaction in partnership with the FDIC that should instill confidence in the banking system,” Frank Holding Jr., chief executive officer of Raleigh, North Carolina-based First Citizens, said in a statement. Bloomberg News reported earlier that First Citizens was nearing a deal.