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The "What You Don't Know Won't Hurt Bush" Theory

Reported by Melanie - May 10, 2005

Folks, the economic news is grim. Here are some of the headlines that popped up when I Googled "Wall Street" just now: Wall Street Weighs Stagflation Threat, Hedge Fund Rumors Push Stocks Lower, Stocks Droop as Oil Prices Move Higher.

I read these articles this morning: Real Wages Fall at Fastest Rate in 14 Years, and Stagnant Salaries Push More Families Towards the Breadline.

What do you suppose the first three segments of Your World w/Neil Cavuto were about today (May 10, 2005)? The "most watched business show on the planet," anchored by the "king of business news," led with Martha Stewart and white-collar crime!

Cavuto introduced reporter Dagen McDowell with: "Martha out of the pokey but getting poked by some angry shareholders today. We're all over that." McDowell reported live from lower Manhattan where Stewart's company's shareholder meeting was held and funny thing, she didn't mention anything at all about "angry shareholders."

After McDowell's report Cavuto introduced the next segment with: "All right Dagen. Dagen McDowell outside Martha Stewart's encampment with shareholders today. So, should we forget jail time for corporate crooks?" (Comment: Is Cavuto implying that Stewart didn't do jail time?) He asked if it was "time to leave the jails to the murders and the rapists and let the white collar criminals serve their community."

After showing pictures of the likes of Bernie Ebbers, Ken Lay and Jeff Shilling, Cavuto introduced Herb Hoelter who said, in essence, that CEO's should only make "social restitution," because the "whole process is punishment for them" and if Ken Lay or Jeff Shilling got 6, 10, 12 months, it would be a "significant deterrent."

The next guest was Jacob Zamansky who said the likes of Lay and Shilling should go to jail for a "real long time," they're "real criminals" and we should "throw the book at them."

Comment: If I were a business news fan, and I saw this "business news" show launch the hour with segments like this, I might assume that nothing much happened at all in the business world today. I say that's exactly what Fox wants its viewers to think. As the economy tanks, Fox's viewers will instead seethe at Martha Stewart, that liberal Democrat who didn't serve any "real" jail time, instead of at George Bush or the Republicans.

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