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In a Big Lie, Fox Says NSA Leak Caused Dow to Dive

Reported by Melanie - May 12, 2006

The lies and disinformation Fox News is spreading about the NSA collecting information about the telephone calls made by millions of Americans is in and of itself a crime against the country. Today (May 12, 2006) on Fox's "premiere business news" program, Your World w/Neil Cavuto, it played to an already financially insecure American audience by saying that the stock market fell both Thursday and Friday because of the leaks, which is absolutely false. The market fell because it looks like the Bush administration has wrecked the economy along with everything else: import prices are rising, the dollar is falling, consumer sentiment took a dive last month, and many "analysts" think inflation is right around the corner. Those are the issues that brought the Dow down yesterday and today.

For Fox to make such a outrageous allegation on it's flagship "business news program" shows the extent of its willingness to disregard all journalistic standards and make a mockery of the words "fair and balanced news" in order to cover for the Bush administration.

Here's a sample of what happened today. (You can view the video here.)

David Asman, substituting for Neil Cavuto, hosted a roundtable discussion with three Fox News employees: Brenda Buttner, Charles Payne, and Mike Norman.

Asman introduced the panel with this:

Many thought this was the week the Dow would hit an all-time high. We seemed well on our way and it looked like Thursday could be the day. Well, guess what? Then came the headlines in yesterday's papers: a leak about national security. The President saying the country is less safe and stocks sell off big time. Coincidence?

So when national security is compromised how closely does Wall Street watch?

So, Mike, coincidence? I don't think so, huh?

Mike Norman:

Not a coincidence and you're right. It woulda got there and we would have surpassed it...

Asman, interrupting:

Without the NSA the market would have hit an all-time high?

Norman:

Right. It was time. It was there. This may be an unmitigated security disaster here...it hit the market bigtime.

Charles Payne:

It is spooking people. There's an anti-American sentiment out there, particularly in American right now.

Asman:

All right. We saved the best for last. Brenda.

Having spent enough time propagandizing against the act of leaking (never mind what was leaked), Brenda Buttner stepped in with some flag waving reassurances that George Bush is still the great protector and some not-so-subtle propaganda about letting Bush do whatever he needs to do to save us:

Okay, let me tell you something...

Asman, interrupting,

There you go.

Buttner:

...Wall Street knows we are winning this war on terror. They are not afraid that we will win [sic]. They are so secure in President Bush's winning it, they are not going to let some puny little traitor, some leaker who went ahead and compromised our national security, take down our market. There is no way that is going to happen.

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