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Financial News? What Financial News?

Reported by Marie Therese - July 3, 2006 -

After virtually ignoring the New York Times terror financing story last week, the Cost of Freedom shows took it up this week with a vengeance. The following quotes from the July 1, 2006 airing of Forbes on FOX represents an accurate picture of FOX's unique approach to finance, i.e., ignore economics and discuss politics instead. Apparently, on FOX the mere mention of the word "market" qualifies a segment as "financial" news. We News Hounds prefer to call it what it is - Republican propaganda!

Segment Banner: IS THE NY TIMES THE #1 ENEMY OF THE STOCK MARKET?

"Well, now that the New York Times essentially has been exposed as an arm of Al Qaeda you know I think there's some good can come from this because the silver lining ... is that, now, any future Presidential candidate or big politician that The New York Times pushes, you know, the lunatics on the far left, they don't have any credibility because even moderates in this country know that what the Times did was reprehensible." - Mike Ozanian, Senior Editor, Forbes magazine

"You know in World War II there were posters all over the country - 'Loose lips sink ships'. Well, loose lips also sink effective anti-terrorist. We're telling the terrorists it's that it isn't safe for them to use an Indonesian bank, it isn't safe for them to use an obscure Pakistani bank because we're watching it. They'll just find other ways to do it." - Jim Michaels, Editorial Vice President, Forbes Magazine

"Do we really think that the editors of The New York Times are out to hurt this country? Are out to encourage terror attacks? No, they're not." - Dennis Kneale, Managing Editor, Forbes magazine

"Look, all The New York Times proves is that the left is incapable of thinking about the security of this country seriously. In a strange way this is good for the markets because the left hand has been exposed and I think this is - the Republicans are gonna make a comeback in 2006." - Rich Karlgaard, Publisher, Forbes Magazine

(Comment: Comeback? Aren't they already top dogs in the House, the Senate and the White House?)

"... [The] Treasury Department went to the Wall Street Journal and said 'We've got a story. We're gonna declassify some information 'cause the Times is gonna blow the story.' ... The blunt truth is The New York Times wants us to lose this war on terror or they wouldn't have published this thing. The New York Times is against this war." - Steve Forbes, Editor-in-Chief, Forbes Magazine

"That's a load of baloney! ... This is eerily reminiscent of what went on in the early 70s with the Pentagon Papers, the Watergate series. the same argument and the same distraction from the real issue and that is the war on terror." - Lea Goldman, Staff Writer, Forbes Magazine

(Goldman may be an ex-staff writer after butting heads with big boss Steve Forbes.)

"... This Bush administation has cried wolf so many times on national security. They're taking CIA documents from the 50s that have been publicly available for decades and reclassifying them, wanting to make them a secret ... because it's a threat to national security. ... The problem is that when they now go to the press and say 'will you hold off?', the press says 'Well, wait a minute. Is it really a threat to national security?'" - Dennis Kneale

" ... The New York Times has basically said 'We serve a higher cause than the national interest and therefore, we're serving a higher cause. The national interest doesn't matter. The public has a right to know.' The public didn't need to know this." - Jim Michaels

"But, Jim Michaels, whom I hold in high esteem, why do you get to decide that the public doesn't have the right to know? - Lea Goldman,

"You guys are knee-jerk defenders of anything the media does." - Jim Michaels

"You know, I feel sorry for centrist Democrats who come out of the Truman and JFK tradition because they have no voice anymore in the New York Times. You know, Pinch Sulzberger is a pathetic little hippie from the 1960s ... he's the publisher. It's anti-American. This is a sad day for a once-great institution." - Rich Karlgaard