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FOX News Financial Shows Ignore Biggest Business Story of the Week

Reported by Marie Therese - June 25, 2006 -

FOX is fond of claiming that its financial shows represent "the most powerful name in business news". However, yesterday (Saturday, June 24, 2006) their great and powerful two-hour block of financial shows called The Cost of Freedom all but ignored the hottest financial story of the past 72 hours, that is, the fact that the United States government has engaged in a five-year, covert surveillance of international monetary transactions in collusion with SWIFT (Society for Worldwide Interbank Financial Telecommunication). I was flabbergasted.

The only program to cover the story was Cavuto on Business where it was treated as an "attack the messenger" piece in which various paid Republican shills dutifully excoriated the New York Times for, as they put it, endangering America's security in a time of war. This was typical FOX News spin and totally expected. However, during the remaining business shows - Bulls & Bears, Forbes on FOX and Cashin' In - the story simply disappeared!

At first I thought that these three shows might have been taped before the news broke on Friday. However, all three hosts either made mention of or ran stories on the Miami terror bust, a story that broke at virtually the same time and had little or nothing to do with the business world!

Even more disturbing was the fact that during the periodic FOX News Headlines that aired at 7:10, 7:30, 8:00 and 8:30 AM EDT, announcer Janice Dean did not once mention the international finance spying story. I found this to be an astounding omission, especially in light of the fact that the story had been covered extensively in the three-hour FOX & Friends Weekend show that preceded Bulls & Bears and was mentioned as the lead story by FOX News Live's Brian Wilson at 9:00 AM, immediately after Cashin' In ended.

In addition, during Bulls & Bears when financial advisor Bob Olstein mentioned the word "wiretapping", host Brenda Buttner cut him off, telling the audience that the wiretapping story would be covered on Cavuto's show, giving the distinct impression that this news blackout was deliberate.

If so, then the question becomes: Why would FOX News censor the business news in this way? What purpose would it serve other than to keep a small number of FOX viewers in the dark?

It's certainly a mystery to me.