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Bullish About Bush

Reported by Judy - October 9, 2004 -

For pure, unabashed pro-Bush bias on Fox News, look no further than Brenda Buttner's "Bulls and Bears" today (Oct. 9).

Buttner asked her regular panel of Wall Street studs (they're all male) who "Wall Street" thinks won the debate. Gary B. Smith, Scott Bleier, Tobin Smith, and Gary Kaltbaum vyed with each other in coming up with the most cutting criticism of John Kerry.

Kaltman said he was "absolutely amazed" that Kerry could look in the camera and say he was for tort reform, not raising taxes, and that his health plan would not mean a bigger role for the government. Kaltman said he would sooner believe that Castro's Cuba is becoming a democracy than believe Kerry.

Bleier said that Wall Street liked Bush because he already has proven to be "more pro business" because he cut taxes. He said Kerry planned to create another Great Society.

Gary B. Smith and Bleier urged Bush to hit harder at Kerry, although they agreed his performance improved from the first debate.

Only Pat Dorsey stayed aloof from the anti-Kerry feeding frenzy. Neither Bush nor Kerry won from Wall Street's perspective, he said, because neither one had a definite plan for getting the deficit under control and that continuing big deficits will mean inflation, which is bad for stocks, he said.

After that brief interlude of sanity, the others went on to the question of whether the stock market will go up on Monday after Bush's performance. Tobin Smith thought it would go up, even though Buttner pointed out that it went up after the first debate despite Bush's disasterous performance. Smith dismissed that point, noting that "It went up after the last debate because oil dropped."

Dorsey tried to calm the others down when he said, "I haven't the faintest idea (what the stock market will do on Monday) and neither does anybody else on this show." Pow! Bam!

Buttner then played a clip of Kerry talking about the one percent of Americans who got $89 billion in tax cuts under Bush and said, "Rich folks, he doesn't like them. ... He does bash rich people. I like rich people. They've given me jobs."

Kaltman ranted about how taxes penalize success and how rich people stop working in the middle of the year because it's not worth it to make more money because they have to pay so much in taxes.

Again, Dorsey tried to restore calm. "Most of the folks in this room are overstating it (in saying Kerry hates rich people). ... He's not going to put them all in a gulag, for gosh sakes." Another sock in the kisser from the quiet guy in the corner.

But after that brief interlude, it was back to Kerry-bashing. Tobin Smith claimed Kerry never got a job or created a job. Bleier said he is "pandering" to everybody who makes less than $200,000 a year.

They cut to Dorsey again, who says, "If tax cuts for the rich work so well, why do we have fewer jobs than we had four years ago?" Ouch!

Logic usually trumps emotion, but not with those rational guys from Wall Street.