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Fox's "Business" Anchors Try to Scare Their Audience: The Alberto Gonzales "Witch Hunt" Could Cause a Stock Market "Sell Off"

Reported by Melanie - March 20, 2007 -

Neil Cavuto, Fox's "money guy" (his words) is at times, as regular readers of this site know, very adept at creating the illusion that his show is about "business news" while simultaneously beating the propaganda drums for the Bush administration. Today he was at the top of his game. With the help of cohort Brenda Buttner, he blew out some smoke and flashed some mirrors and he put the fear of losing money into his audience due to the "witch hunt" the Democrats are conducting over the Attorney General scandal. (Oops! There must have been a typo in the memo to Cavuto. Bush called it a "partisan fishing expedition.")

At roughly the bottom of the hour, Cavuto returned from a break with the second of two FOX NEWS ALERTs about George Bush making live remarks today at 5:45 p.m. EDT about the Gonzales "mess." Cavuto said Bush is, "expected to express his support for Attorney General Gonzales but many fear this will only add fuel to what is being called a witch hunt, in a lot of circles, and that's got the attention of Wall Street. Some are concerned this could all spill over into a stock market sell off. Now, we did not see that today; the fear is that we might."

Cavuto turned to Buttner, Fox's "senior business correspondent," who elaborated:

Yeah, I think this could be a big problem. Look first there's the drama of Gonzales stays, or he goes. Whatever happens Bush will be painted as either weak or as intransigent. Next we have these hearings that could go on forever and just drag out everything. Bottom line, the Dems are not, are just not satisfied with the legislative body. They want to erode the presidential powers and I think that's a real danger and that's what Wall Street is focused on.

Comment: According to Fox, life is very, very scary, yes, but it's also very, very simple.