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The Publisher of Forbes Magazine, a Regular on Fox, Blames the Mortgage Meltdown on Sex Ed

Reported by Melanie - September 22, 2007 -

One of the four shows that airs during Fox's Saturday morning "Cost of Freedom business bloc" is called Forbes on Fox. Forbes on Fox features host David Asman and a cast of six to eight employees of Forbes magazine and/or Forbes.com. One of the regulars is Rich Karlgaard, the publisher of the magazine.

The first segment on today's (September 22, 2007) show was about the "mortgage meltdown." Per the chyron, it specifically addressed the issue of whether, "More Home Foreclosures are Good for America and Economy!" Asman made the rounds and asked the participants what they thought about that. When he got to Karlgaard, Karlgaard said,

Well, what I think is that we're seeing the first generation of home buyers who, in school, where taught to put condoms on bananas instead of learning about compound interest. This is not a good thing, but, ah, we have to work our way through it and the only way the market can clear, as Neal [Neal Weinberg, a senior editor at Forbes] said, is for the foreclosures to happen.

Comment: Yes siree Bob. If you watch them thar "business" shows on Fox, you'll learn a lotta stuff.